七年监管桎梏落幕！美联储解除富国银行(WFC.US)资产增长限制

Core Viewpoint - The Federal Reserve has lifted the asset growth restrictions on Wells Fargo, which were imposed in 2018 due to a major fake accounts scandal, marking a significant moment in the U.S. financial industry [1][2] Group 1: Regulatory Changes - The Federal Reserve announced that Wells Fargo has met all conditions to lift the asset growth limit, reflecting substantial progress in addressing its deficiencies [1] - The asset cap was initially set in February 2018, limiting Wells Fargo's assets to $1.95 trillion, until the bank's governance and internal controls met regulatory standards [1][2] - Other terms of the 2018 regulatory order will remain in effect until the bank fulfills all compliance requirements [1] Group 2: Historical Context - The fake accounts scandal began in 2016 when the Consumer Financial Protection Bureau (CFPB) discovered that Wells Fargo employees had opened over 2 million unauthorized accounts since 2011 [2] - The scandal led to significant penalties, including a record $100 million fine from the CFPB and additional fines from the OCC and local authorities [2] - The asset cap was seen as a last-resort regulatory measure for serious violations or ineffective long-term remediation [2] Group 3: Financial Implications - Analysts predict that lifting the asset cap could increase Wells Fargo's annual earnings per share by approximately $1.19, representing an 18% growth, driven by increased deposits, trading income, reduced expenses, and loan growth [3] - The benefits of this change are expected to materialize fully between 2025 and 2026 [3] - However, there are cautions regarding balancing cost savings with business reinvestment, as noted by analysts [3] Group 4: Leadership Changes - The current CEO, Charlie Scharf, took over in October 2019, following a series of leadership changes after the scandal [4] - Previous CEOs included Tim Sloan, who resigned in March 2019, and John Stumpf, who was banned from the banking industry following the scandal [4]