From Yahoo Finance: 2025-06-08 10:30:00

Wells Fargo is moving forward after shedding a major growth restriction imposed by regulators in the past. CEO Charlie Scharf aims to make Wells Fargo a major Wall Street investment banking player, catching up to rivals like Goldman Sachs and JPMorgan Chase. The removal of a $1.95 trillion asset cap will help Wells Fargo pursue growth in various areas, including investment banking, credit cards, and wealth management. Despite passing a crucial milestone, Wells Fargo’s stock only rose by 2% this past week but is up 30% over the past 12 months. S&P Global upgraded Wells Fargo’s outlook to “positive” and expects expansion in commercial and investment banking. JPMorgan CEO Jamie Dimon praised Charlie Scharf and his team for resolving past issues, expecting Wells Fargo to be a formidable competitor in the future.



Read more at Yahoo Finance: Wells Fargo spent years worried about the past. Now it can focus on the future.