Wells Fargo & Company (WFC) Warns of Soft or Falling Consumer Loan Growth this Year
Wells Fargo & Company (NYSE:WFC) is one of thebest Goldman Sachs bank stocks. On June 10, Wells Fargo Chief Financial Officer Mike Santomassimo commented that the American consumer loan growth will potentially be tepid for the rest of 2025 and could likely decline. On the commercial side, growth is harder to forecast due to ongoing uncertainty around US tariffs.
This comes shortly after the Federal Reserve lifted a $1.95 trillion asset cap that had restricted WFC for seven years following its fake accounts scandal. With that cap now removed, CEO Charlie Scharf says Wells Fargo is focused on expanding across credit cards, investment banking, and wealth management. Industry leaders like JPMorgan’s Jamie Dimon praised WFC’s progress and called the lengthy penalty “grossly unfair”.
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Santomassimo added that investment banking is starting to pick up, with the firm now landing deals it would not have been part of before. Even though dealmaking has been slow amid economic uncertainty, banks remain optimistic.
Wells Fargo & Company (NYSE:WFC) is a US financial services company providing banking, lending, investment, and wealth management services.
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