The bank approached the Fed about a temporary or permanent lifting of the $1.95 trillion asset cap, which has curbed its growth and profitability since it was imposed in 2018, the FT said https://www.ft.com/content/af0c45a8-6afa-11ea-800d-da70cff6e4d3 on Saturday, citing people familiar with the matter. Removing the cap has been a priority for Chief Executive Charles Scharf and the issue has become acute as the Fed tries to encourage banks to extend credit to customers facing income shortfalls, FT said. …read more
Source:: Yahoo Finance
