Wells Fargo's asset cap may be lifted, and its stock price rises in pre-market trading

Wells Fargo's stock price rose 2.5% in pre-market trading after Reuters cited three insiders reporting that the bank is in the final stages of passing regulatory tests after resolving the fake accounts scandal, with the possibility of lifting the $1.95 trillion asset cap in 2025. The penalties could be lifted as early as the first half of 2025. The report stated that if the relevant authorities have concerns or are not fully satisfied with the remediation measures, the penalties may still be maintained