A jump in fee income helped the San Francisco-based bank boost second-quarter earnings per share by 20% from a year ago.

Wells Fargo (WFC) aims to build up its corporate and investment bank and expand its branded credit-card business, among plans to grow the bank after seven years of being constrained by a $1.95T ...

Wells Fargo said the removal of the asset cap was “a pivotal milestone” in the company’s transformation. It said it would give full-time employees a $2,000 bonus.

Details of WFC’s Asset Cap Removal by Fed. On Tuesday, the Federal Reserve announced that Wells Fargo is no longer subject to the asset growth restriction of $1.95 trillion.

The Federal Reserve imposed the asset cap on Wells in February 2018, limiting the size of its balance sheet to about $1.9 trillion. The cap, a first-of-its-kind punishment, was imposed after the ...

The asset cap was Wells Fargo 's biggest penalty stemming from the 2016 scandal. From 2002 to 2016, ... Wells Fargo CEO Charlie Scharf said in a statement.

San Francisco-based Wells Fargo, one of the nation’s largest banks, received welcome news on Tuesday when the Federal Reserve lifted restrictions on the company’s asset growth.

A jump in fee income helped the San Francisco-based bank boost second-quarter earnings per share by 20% from a year ago.

Wells Fargo (NYSE:WFC) aims to build up corporate and investment bank and expand its branded credit-card business, among its list of plans to grow the bank after seven years of being constrained ...

The asset cap cost Wells Fargo 2.2% of aggregate bank deposits, said Siddharth Vij, assistant professor of finance at Terry College of Business at the University of Georgia.

This has been a demanding place to work,” Wells Fargo CEO Charlie Scharf said in discussing higher compensation for the bank's workers.

Wells Fargo & Co.’s Federal Reserve-imposed asset cap that restricted its size for more than seven years was “grossly unfair,” said Jamie Dimon, longtime boss of its biggest rival.