Senator Urges Fed to Maintain Asset Cap on WFC Over Compliance Issues
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Senator Warren has urged the Federal Reserve to maintain the asset cap on Wells Fargo (WFC) due to ongoing compliance issues. The cap should remain until Wells Fargo demonstrates its ability to manage risks effectively.
November 21, 2024 | 5:15 pm
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Senator Warren has called on the Federal Reserve to maintain the asset cap on Wells Fargo due to compliance issues. This could limit WFC's growth until it resolves these issues.
The asset cap restricts Wells Fargo's ability to grow its balance sheet, which can impact its revenue and profitability. The call from Senator Warren highlights ongoing compliance issues, suggesting potential regulatory challenges ahead.
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