From Yahoo Finance: 2025-06-04 11:02:00

Regulatory caps that limited growth have been lifted, freeing Wells Fargo to pursue new business. The caps cost the bank billions in profits during the years they were in place. Wells Fargo leadership has streamlined the company, positioning it to be a winner from here. Investors are relieved, sending Wells Fargo shares up 3%. Late Tuesday, Wells Fargo said the Fed had determined the bank has met all conditions to have the caps removed. CEO Charlie Scharf called the decision “a pivotal milestone in our journey to transform Wells Fargo,” and said the bank is primed for growth. Wells Fargo missed out on upward of $39 billion in profits during the years the caps were in place, highlighting the bank’s potential to grow. Scharf has made significant changes to Wells Fargo since joining in 2019, positioning the bank for future success. Wells Fargo has a nationwide franchise and solid leadership, making it well positioned to outperform its peers in the years to come. Wells Fargo is out of the penalty box after more than seven years, signaling a new chapter for the bank.



Read more at Yahoo Finance: Why Wells Fargo Shares Are Up Today