Wells Fargo continues to struggle with its regulatory challenges. In its most recent filing with the Securities and Exchange Commission (SEC), Wells Fargo advised the market that it is “likely to experience issues or delays” in satisfying demands from multiple U.S. regulators — an important shift in language from earlier filings where the bank said it “may” experience delays.
This means the most significant regulatory constraint on Wells Fargo — a Federal Reserve order forcing the bank to keep its total assets frozen at 2017 levels — could take even longer to resolve, JPMorgan analyst Vivek Juneja said in a research note.
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