Santomassimo also said that there is still optimism that the new Trump administration will be "pro-growth," echoing comments made by peer banks, including Goldman Sachs CEO David Solomon earlier on Tuesday.
He added that the bank expects the U.S. Federal Reserve's stress testing, which impacts the regulatory capital that lenders are required to maintain, to also change in the coming months under the new administration.
Wells Fargo also expects the Basel III Endgame implementation to be more constructive now, he said.
"The industry still thinks we should try to finalize Basel III, I think that puts some certainty around how we should manage the balance sheet and it will be a good thing if we can get that finalized."
https://www.reuters.com/business/finance/wells-fargo-cfo-says-five-consent-orders-are-remaining-2025-02-11/
3 replies (most recent on top)
All us crooks in Wells Fargo will thrive under this crooked administration. Party Party.
Trump is a dolt, but he won’t do unpopular things - his fragile ego is the only thing saving humanity.
optimism = massive campaign donations...