(Reuters) Federal Reserve Chair Jerome Powell said on Wednesday that the Fed is closely monitoring efforts by Wells Fargo & Co to fix its problems, and that it would take appropriate actions if the bank failed to do so. In 2018, the Federal Reserve ordered Wells Fargo to keep its assets below $1.95 trillion, until it had improved its governance and risk controls following sales practice scandals.
Fed’s Powell says Wells Fargo asset cap to stay in place until problems fixed
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