`UPDATE: This story now includes commentary from Wells Fargo executives and analysts. The regulatory shackles are off at Wells Fargo, but that new reality doesn’t necessarily mean that rapid growth is in the offing. Though the bank’s assets climbed above their longtime $1.95 trillion limit during the second quarter, Wells continues to be constrained by […]
Wells Fargo’s asset cap is gone, but loan demand stays tepid Read More »
A plaintiff in California is claiming that Xactus and Equifax did not conduct a “reasonable” investigation into claims of identity theft, which harmed her credit and violated the Fair Credit Reporting Act. The suit was filed in late May in the Superior Court of San Bernardino County, California, by plaintiff Junnan Guo, who is representing
Lawsuit claims Xactus, Equifax, others violated Fair Credit Reporting Act Read More »
Regulators decision to lift Wells Fargo’s asset cap after seven years leaves the San Francisco-based bank better positioned for growth but won’t result in significant near-term gains, CFO Michael Santomassimo said.Eric Thayer/Bloomberg Wells Fargo has more flexibility, and its bankers can go about their business in a more “front-footed” fashion, now the Federal Reserve has
Wells Fargo: End of asset cap is not a “light-switch moment” Read More »
This story has been updated with an analyst’s comments. Wells Fargo has finally broken free from the regulatory shackles that have constricted its growth for more than seven years. The Federal Reserve announced Tuesday that it has lifted the $1.95 trillion asset cap it imposed on Wells in 2018. The cap’s termination is a watershed
Wells Fargo sheds asset cap, ending seven years of handcuffs Read More »
A North Carolina resident claims Wells Fargo denied her government-mandated COVID-19 loss mitigation options, which resulted in the forced short-sale of her house.The plaintiff, Marian Elgin, lost her job in 2020 due to the pandemic and applied for CARES Act forbearance, but was denied by the bank, litigation filed in a federal court in California
Wells Fargo sued for denying borrower COVID-19 loss mit Read More »
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