Fed puts brakes on Wells Fargo when bank needs to step on gas

Mon, 05 Feb 2018 - 07:35 GMT

The Federal Reserve’s surprise ban on Wells Fargo & Co growing its balance sheet comes at a difficult juncture for the United States’ third-largest lender.

Fed orders Wells Fargo to halt growth over compliance issues

Sun, 04 Feb 2018 - 08:46 GMT

Wells is not allowed to grow beyond the $1.95 trillion in assets it had at the end of last year “until it sufficiently improves its governance and controls.”