Why Wells Fargo Shares Are Up Today

Wells Fargo (WFC 0.85%) is out of the penalty box, more than seven years after regulators put limits on growth in response to a fake-accounts scandal.Investors are relieved, sending Wells Fargo shares up 3% as of 10 a.m. ET. Freedom to growIt has been a lost decade for Wells Fargo. Nearly 10 years ago, the commercial banking powerhouse disclosed it had opened millions of unauthorized customer accounts to pad growth. In 2018, the Federal Reserve placed caps on Wells Fargo's total assets, limiting the bank's ...