Trying to calm investors, Wells Fargo CEO emphasizes stability, jokes about Olympics

Wells Fargo & Co Chief Executive Tim Sloan tried to deliver a message of consistency and stability at an investor event on Tuesday, less than two weeks after the third-largest U.S. bank disclosed another regulatory sanction related to a long-running sales scandal.

Asked whether an asset cap imposed by the U.S. Federal Reserve would have any impact on Wells Fargo’s expenses, growth, core businesses, customer retention, employee turnover or capital return plans, Sloan said repeatedly that nothing much had changed.

Source: Reuters

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