Wells Fargo CEO says bank not under pressure to make acquisitions

Core Viewpoint - Wells Fargo's CEO Charlie Scharf stated that the bank is not feeling pressured to pursue acquisitions for growth following the lifting of a seven-year regulatory penalty [1] Group 1: Company Insights - The lifting of the regulatory penalty allows Wells Fargo to explore growth opportunities without the constraints previously imposed [1] - The bank remains focused on organic growth strategies rather than acquisitions at this time [1] Group 2: Industry Context - The statement reflects a broader trend in the banking industry where institutions are reassessing their growth strategies in light of regulatory changes [1]