Wells Fargo & Co. (WFC)
With a market capitalization of over $302 billion, Wells Fargo has a storied history dating back to the California Gold Rush.15 In the last decade, it has faced significant challenges. Once known for its strong customer relationships and cross-selling prowess, Wells Fargo has been working to rebuild its reputation following a major account fraud scandal revealed in 2016.67 Under new leadership, the bank has undergone extensive restructuring, put in place enhanced its risk management practices, and invested heavily in regulatory compliance.
Wells Fargo recently sold off several divisions to concentrate on more lucrative areas of business. In 2023 alone, the bank let go of its Wells Fargo Asset Management, its Corporate Trust Services business, and its student loan portfolio, among lines of business. It also stopped originating personal lines of credit.8 The bank has shown signs of financial improvement, reporting increased profits and revenue in recent quarters. Despite progress, Wells Fargo continues to face regulatory scrutiny and fines. In October 2025, for example, the bank sought court approval of a shareholder lawsuit alleging that Wells Fargo’s board failed to properly oversee discriminatory lending practices.9