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Wells Fargo Optimistic as Consent Order Ends, Growth Looms

5/30/2025

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Summary

Story summary

Wells Fargo has ended a seven-year consent order, retaining only the Federal Reserve's $1.95 trillion asset cap.
CEO Charlie Scharf is optimistic about the cap being lifted soon, enabling growth.
The bank has resolved six consent orders this year and invested $2 billion annually in risk management.
Scharf highlighted a renewed emphasis on retail deposits and customer service in preparation for expansion.

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Story summary

Wells Fargo has ended a seven-year consent order, retaining only the Federal Reserve's $1.95 trillion asset cap.
CEO Charlie Scharf is optimistic about the cap being lifted soon, enabling growth.
The bank has resolved six consent orders this year and invested $2 billion annually in risk management.
Scharf highlighted a renewed emphasis on retail deposits and customer service in preparation for expansion.