Key Takeaways WFC shares rose nearly 3% after the Fed removed its asset cap imposed in 2018. The Fed cited WFC's improved governance and risk controls in lifting the growth restriction. Without the cap, WFC can now grow deposits, loans, and fee-based services to boost earnings.Shares of Wells Fargo & Company (WFC) climbed nearly 3% in after-hours trading yesterday as the bank cleared a major obstacle to its growth plans. The Federal Reserve has removed the $1.95-trillion asset cap on WFC after years of re ...

The Federal Reserve on Tuesday voted to scrap a near-$2 trillion asset cap imposed on Wells Fargo over a 2016 scandal that uncovered millions of fake accounts and other consumer abuses.The decision closes the door on a decade of regulatory woes for the nation’s fourth-largest lender and is a major victory for Wells Fargo CEO Charlie Scharf — allowing the bank to pursue growth by boosting loans, stepping up its Wall Street business and doing deals.Wells Fargo will no longer have to operate under a $1.95 tril ...