Elizabeth Warren, a top Democratic Senator, has requested the Federal Reserve not to remove the $1.95 trillion asset cap imposed on Wells Fargo & Company (WFC) until the bank solves its risk management and compliance issues. This was reported by Reuters on Nov. 20, 2024. In a letter to the Fed's chairman, Jerome Powell and regulatory chief, Michael Barr, Warren highlighted that the restriction, which was imposed in 2018, should not be lifted until WFC "can show that it can properly manage the risks associat ...