Wells Fargo in Podcasts
companyWells Fargo is a major American bank involved in retail banking, with a history of regulatory issues and recent recovery.
Mentions in Podcasts
Meanwhile, Wells' average annual deposits, because it couldn't grow them, were just up 5% over that same timeframe. Remember, this was when the Fed issued unprecedented amount of stimulus. We'll be right back. were about the same as what JP Morgan earned from those same businesses in just the fourth quarter alone.
That means the now fourth largest bank in the country can freely take deposits, make more loans, and look into acquiring companies once more. Neil, this has been a long comeback for Wells Fargo. that has involved rebuilding its tarnished reputation and fixing deep-rooted cultural issues at the bank.
Starting this week, the Fed lifted its asset restrictions on the bank, ending a rare and long-running penalty that had stunted its ability to expand and cost the bank an estimated $39 billion in profits. This saga dates back to 2015 when Wells Fargo was the belle of the banking world.
Don't bark up the wrong tree. And go to LinkedIn.com slash MBD to learn more. That's LinkedIn.com slash MBD. After more than seven years on the Federal Reserve's naughty list, Wells Fargo is finally free.
Good morning, Brew Daily Show. I'm Neil Freiman. And I'm Toby Howell. Today, after seven years of sleeping in the garage, Wells Fargo gets invited back into the house.
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