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While this article didn't say so, if you read the original article by CNBC[0] this is likely due to regulatory action by the Federal Reserve in 2018 rather than
by mjreacher 5y ago
While this article didn't say so, if you read the original article by CNBC[0] this is likely due to regulatory action by the Federal Reserve in 2018 rather than any purely economic concerns based on the current state of the economy.
[0]: https://www.cnbc.com/2021/07/08/wells-fargo-is-shutting-down-all-personal-line-of-credit-accounts-.html https://www.cnbc.com/2021/07/08/wells-fargo-is-shutting-down...
- mike_d 5y ago"... the Fed barred Wells Fargo from growing its balance sheet until it fixes compliance shortcomings" If only there was some other way they could fix the situation.