Senator Elizabeth Warren and Representative Maxine Waters are pushing the Federal Reserve to reverse its recent decision to relax strict guidelines on Wells Fargo’s asset growth. The two Democrats, who serve on influential finance committees, argue that the current plan would lead to increased risk and instability in the financial sector. They urge the Fed to reinstate stricter asset caps on Wells Fargo, citing concerns about the bank’s ability to manage its assets without facing potential financial collapse.
Source: https://www.barrons.com/articles/wells-fargo-asset-cap-elizabeth-warren-867a82a7