Wells Fargo set for growth as Fed ends seven-year asset cap
Wells Fargo recently announced that it is no longer under the asset limit that the Federal Reserve had placed on the bank over the last seven years. This change represents a major milestone for the financial institution, which has encountered numerous obstacles since the limit was implemented. With these restrictions lifted, Wells Fargo is now set to explore growth strategies that were previously restricted.The limit on assets was originally established due to significant misconduct and failures in risk management at the bank. While it was enforced, Wells Fargo experienced significant restructuring and underwent reforms designed to improve its operations and…