“It is very possible that the Fed will lift the asset cap on Wells Fargo,” Mayra Rodriguez Valladares, a capital market consultant and trainer who works with banks on risk and management issues, told Banking Dive. “It should not unless Wells Fargo can show that it really has improved internal controls given its record of consumer abuses.”

If the regulator decides to lift the cap, the bank should be required to submit weekly data on the exact amount of loans it approves and disburses to individuals and small businesses, she said.

“Intense supervision is required of Wells Fargo to make sure that it is indeed fulfilling a critical mission to individuals and companies adversely impacted by COVID-19,” Valladares said.

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