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Wells Fargo warns investors that the bank is likely to face more regulatory setbacks
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cnbc.comIn this article
Wells Fargo isn't out of the woods yet when it comes to its regulatory mess.
That's the message the bank sent in its most recent filing with the Securities and Exchange Commission this week. Wells Fargo said it is «likely to experience issues or delays» in satisfying demands from multiple U.S. regulators – a subtle, but meaningful shift in language from earlier filings where the bank said it «may» experience delays.
The development means that the most significant regulatory constraint on Wells Fargo — a Federal Reserve edict forcing the bank to keep its balance sheet frozen at 2017 levels — could take even longer to resolve, JPMorgan analyst Vivek Juneja said Wednesday in a research note.
«The key risk
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