Wells Fargo Stock Rises After Fed Lifts Growth Cap

Shares of financial giant Wells Fargo & Co (NYSE:WFC) are up 2.2% before the bell, after the Federal Reserve officially lifted its long-standing asset cap on the bank. The restriction, imposed in 2018 following Wells Fargo’s 2016 fake-accounts scandal, had capped the bank’s total assets at roughly $2 trillion and hindered its ability to grow.Coming into today, WFC is up 7.7$58.42 — their lowest poi ...