Sunday, 31-May-2020
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Fed Eases Wells Fargo’s Asset Cap to Lend to Small Businesses Harmed by Coronavirus - The Wall Street Journal

The Federal Reserve temporarily lifted restrictions on Wells Fargo & Co.’s growth, allowing the troubled bank to make more loans during the coronavirus crisis and giving it a chance to improve its tarnished reputation.

The bank’s lending capacity has been limited by a $1.95 trillion cap on assets imposed by the Fed in 2018. The bank will now be able to exceed that overall limit via loans it makes through two of the government’s small-business lending programs, the central bank said Wednesday. The cap will remain in place...

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