Fed shackles weigh on Wells Fargo

Wells Fargo anticipates operating under a Federal Reserve-imposed asset cap through 2019, maintaining the $1.9 trillion ceiling on its growth for a second consecutive year.

The San Francisco-based lender has been barred from expanding its balance sheet since February last year. It ended 2018 with $1.895 trillion in assets, down $56 billion (3%) from $1.951 trillion at end-2017. Total average loans fell $5.5 billion to $946.3 billion on the year, and average deposits $42.7 billion to $1.3

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