Rafayel Yeranosyan - “Pahlevan” at AGBU Performing Art Center in Pasadena, CA, March 14 2025, (818) 265-0506 
The Armenian American Museum Young Leaders Council in Glendale, CA. December 13th - 15th at 7:00 PM. Call: (818) 926-8108 Wells Fargo: We're probably stuck in the penalty box until 2020
Tuesday, January 15, 2019
The scandal-ridden bank is now planning to operate under tough Federal Reserve sanctions "through the end of 2019."
Citing "widespread consumer abuses," the Fed put imposed an unprecedented asset cap on Wells Fargo last February. That penalty is to remain in place until regulators are satisfied the bank has cleaned up its act.
Wells Fargo (WFC) originally said the asset cap could be lifted as soon as September 2018.
But CEO Tim Sloan told analysts on Tuesday that Wells Fargo needs more time to incorporate the "feedback" it's received from the Fed.
"We're making progress," Sloan said. "It's just happening a little bit slower than we had originally anticipated, but we'll get there."
Wells Fargo shares were down 2% in midday trading.
https://www.cnn.com/business/live-news/stock-market-today-1-15-2018/index.html
