A long list of challenges confronted Wells Fargo & Co. Chief Executive Charles Scharf when he was brought in to restore the bank’s tarnished reputation. In the year since, his problems have only multiplied. America’s fourth-largest bank is in the grip of a recession that threatens to deliver steep loan losses. Near-zero interest rates are straining profit margins. And the bank is still in hot water with regulators, which imposed a growth cap as a result of the bank’s four-year-old fake-account scandal and the plethora of problems...

Source: Wall Street Journal October 08, 2020 09:33 UTC