Wells Fargo Charles Scharf
NEW YORK: Wells Fargo & Co’s chief executive officer Charlie Scharf (pic) said the bank was not yet planning for the end of a damaging asset cap imposed by regulators after it smashed Wall Street estimates for second-quarter earnings.
The Federal Reserve in early 2018 ordered Wells Fargo to keep its assets below US$1.95 trillion (RM8.19 trillion) until it had improved its governance and risk controls following a wave of sales practice scandals.
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