Wells Fargo Confident on Its Work for Asset-Cap Lift, CEO Says

Wells Fargo & Co. is far along the path to fulfill requirements for the Federal Reserve to ultimately end a growth ban that’s hung over the bank for more than seven years, Chief Executive Officer Charlie Scharf said.

“I don’t speak for the Fed in terms of timing,” Scharf said Wednesday at the Bernstein Strategic Decisions Conference. “They’re got a very, very diligent process that they go through. But our level of confidence in terms of where we are and how far we are down that road is extremely high.”

Charlie Scharf

Photographer: Ting Shen/Bloomberg

The Fed imposed the asset cap after a raft ...