The Wall Street Journal

Letting Wells Fargo off the Leash Will Rattle Regional Banks

The giant lender can once again compete aggressively on all fronts to make up for lost ground in deposits

An asset cap on Wells Fargo in place since 2018 was lifted this week.
An asset cap on Wells Fargo in place since 2018 was lifted this week. Photo: Jeenah Moon/Bloomberg

Wells Fargo, one of the country’s largest banks, missed out on hundreds of billions of dollars of deposit growth when it was handcuffed by an asset cap. Now that the cap is lifted, it can compete hard for customers’ cash again.

Banks around the country are probably going to feel it.

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