Bloomberg Businessweek

Wells Fargo Asset Cap Lifted by Fed, Paving Way for Growth 

Jun 3, 2025
Alix Steel, a Bloomberg Radio and Television Anchor, joins Nick Wadhams, Bloomberg News National Security Team Leader, and Eric Clark, Chief Investment Officer at Accuvest Global Advisors, to discuss Wells Fargo's newly lifted Federal Reserve asset cap. The trio examines the bank's potential for growth and recovery from past scandals. They dive into shifts in the energy sector with nuclear power's role, the dynamics of NATO defense spending, and evolving investment strategies like the transition from mutual funds to ETFs, all set against a backdrop of changing regulatory landscapes.
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INSIGHT

Wells Fargo Lifts Fed Asset Cap

  • Wells Fargo has lifted its Federal Reserve asset cap after seven years, signaling the end of its scandal era.
  • This change allows the bank to pursue growth and compete with rivals like JP Morgan more aggressively.
INSIGHT

Wells Fargo Moves Past Scandals

  • The asset cap lift firmly puts Wells Fargo's past scandals behind it.
  • The bank now faces the test of whether consumers have forgotten or forgiven those misdeeds as it seeks growth.
INSIGHT

Wells Fargo’s Growth Opportunities

  • Wells Fargo can now expand trading, investment banking, lending, and deposits beyond 2017 limits.
  • The bank has simplified its business, selling non-core assets and reducing headcount to reposition itself.
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