“Until Wells Fargo addresses shortcomings in areas including internal oversight, it can’t take any action that would boost total assets beyond their level at the end of 2017, without the Fed’s permission. The bank said after-tax profit in 2018 would be reduced by $300 million to $400 million and its stock slumped in late trading Friday.”

Read more: https://www.bloomberg.com/news/articles/2018-02-02/wells-fargo-banned-from-growing-in-fed-crackdown-after-scandals

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