Wells Fargo (WFC, Financial) saw its stock price increase by 2.5% in pre-market trading. This rise follows reports that the bank is in the final stages of passing regulatory tests after resolving issues related to a fake accounts scandal. The asset cap of $1.95 trillion imposed on Wells Fargo could potentially be lifted by 2025.
The removal of the asset cap might occur as early as the first half of 2025. However, if regulators have concerns or are not fully satisfied with the corrective measures, the penalties could remain in place.
