Charlie Scharf in Podcasts

And the prognosis looks pretty good if you listen to Jamie Dimon, who's the JP Morgan CEO. He actually handpicked the Wells Fargo CEO, Charlie Scharf, out of college to be his protege. He worked with Diamond to build what is now the modern JP Morgan, the biggest bank in the world. Charlie Scharf then went to Visa, where he doubled that stock price in four years. Then he went to BNY Mellon.

What followed was an unprecedented tidal wave of regulatory crackdowns, the harshest being the Fed-imposed asset cap that barred the bank from growing its balance sheet beyond $2 trillion dollars, until it was able to clean up its act. It took a while, but Wells Fargo has gotten its act together under a new CEO, Charlie Scharf, earning the Fed's blessing to get back to business as usual.