Bloomberg Podcasts
@bloombergpodcasts·503K subscribers·32.4K videos
Wells Fargo Asset Cap Lifted by Fed, Paving Way for Growth | Bloomberg Businessweek
Posted
June 4, 2025
Views
667
Likes
1
Comments
1
Engagement
June 4, 2025
667
1
1
0.30%
Every word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
See what was published immediately before and after this episode.
44:44Now PlayingWatch Carol and Tim LIVE every day on YouTube().
Wells Fargo & Co. finally escaped a Federal Reserve asset cap that has restricted its size for more than seven years, unleashing the firm from the unprecedented punishment in a major win for Chief Executive Officer Charlie Scharf. The bank’s shares surged.
The Fed said in a statement Tuesday that Wells Fargo met all conditions required by an enforcement action imposed on the bank in 2018 to remove the restriction. The central bank completed its review of Wells Fargo’s remediation efforts and third-party assessments, as well as its own assessment of the bank’s corporate governance and risk management programs, it said.
The hotly anticipated verdict closes the door on nearly a decade of scandals at the fourth-largest US lender and allows the bank to pursue growth again. Since the cap was imposed in February 2018, it became the most-feared punishment in banking and caused Wells Fargo to miss out on about $39 billion in profits by one measure.
The Fed said that other elements of the 2018 enforcement action will remain in place for now.
Today's show features:
Bloomberg News US Finance Team Leader Sally Bakewell on Wells Fargo being released from a Federal Reserve asset cap that has restricted its size for over seven years
Bloomberg Radio and Television Anchor Alix Steel on Meta's deal to buy nuclear power from Constellation Energy to help run its AI platforms
Bloomberg News National Security Team Leader Nick Wadhams on President Donald Trump’s decision to attend the upcoming NATO summit and NATO’s push to boost European to air defenses
Katy Kaminski, Chief Research Strategist of AlphaSimplex on key trends to watch in the equity and bond markets
Eric Clark, Chief Investment Officer at Accuvest Global Advisors on consumer-focused ETFs and investing strategies
See omnystudio.com/listener () for privacy information.
Carol Massar and Tim Stenovec bring together the latest news from the world of business and finance and the interesting stories of global technology, politics, economics and more by harnessing the power of Bloomberg Businessweek reporters and editors.
Subscribe to Bloomberg Podcasts
Listen to more of Bloomberg Businessweek
#Bloomberg #Podcast #News #Businessweek
Follow Bloomberg Podcasts on Twitter
Visit our other YouTube channels:
Bloomberg Television
Bloomberg Originals
For coverage on news, markets and more
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.
