Fed removes Wells Fargo asset-growth cap; special $2,000 stock award to employees

WELLS FARGO & COMPANY/MN

Federal Reserve lifts 2018 consent order asset cap after Wells Fargo met all conditions.
CEO Charlie Scharf says milestone reflects transformed risk, compliance, and management.
All 215,000 full-time employees to receive $2,000 restricted stock award to share in success.
Third-party independent review of remediation work was required and completed.
Company has changed business mix and management since 2019; now focused on growth.

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