Bitcoin price today: gains to $120k, near record high on U.S. regulatory cheer
Investing.com -- Wells Fargo (NYSE:WFC)’s Chief Financial Officer Mike Santomassimo said consumer loan growth will likely remain muted for the rest of the year and might even decline.
"I wouldn’t expect large growth on the consumer side in any way, potentially even a net decline," Santomassimo told investors at a conference on Tuesday. He added that commercial loan growth was harder to predict due to uncertainty surrounding U.S. tariff policies.
The CFO’s comments came shortly after the Federal Reserve lifted a seven-year, $1.95 trillion asset cap that had been imposed on Wells Fargo as punishment following its fake accounts scandal.
Despite broader economic challenges, Santomassimo noted some positive signs in dealmaking activities. "We are starting to see a little bit of share growth" in investment banking, he said. "We are certainly seeing lots of green shoots in terms of deals that we just wouldn’t have been a part of earlier."
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.