June 5, 2025
The Federal Reserve Lifts Seven-Year Asset Cap on Wells Fargo
The Federal Reserve’s decision to lift the asset cap marks a pivotal milestone in our journey to transform Wells Fargo.
Wells Fargo CEO Charlie Scharf, following the Fed’s decision to lift restrictions imposed seven years ago to penalize Wells Fargo for a series of scandals related to consumer abuses and customers creating fake accounts. With the lifted restrictions, the nation’s fourth-largest bank can grow assets again through deposits, loans, business ventures, etc. The Federal Reserve did note, “The other provisions in the 2018 enforcement action will remain in place until the bank satisfies the requirements for their termination.”
Learn More:
- Wells Fargo No Longer Faces Federal Reserve’s 2018 Asset Cap (Investopedia)
- Wells Fargo is Allowed to Grow Again After 7 Years Under Asset-Cap Penalty (Wall Street Journal)
Federal & Washington State Authorities Search for Father of 3 Girls Found Dead; $20,000 Reward for Anyone with Helpful Info
Like all of Washington, the Washington State Patrol is crestfallen to learn of the senseless deaths of three young girls … this case has broken our hearts.
Washington State Patrol spokesman Chris Loftis, regarding the ongoing search for a 32-year-old man suspected of murdering his three young daughters on Friday during a custody visit. The man, Travis Decker, is “former military with extensive training” and should be considered dangerous as authorities look for him about 100 miles east of Seattle.
Learn More:
- Police searching for father of 3 girls found dead in Washington state (CNN)
- Manhunt underway for father after 3 girls found dead in Washington state (WaPo)
New Study Uses Artificial Intelligence, Determines Dead Sea Scrolls Could Be Older than Previous Dating Suggests
It’s like a time machine. So we can shake hands with these people from 2,000 years ago, and we can put them in time much better now.
Professor Mladen Popović of the University of Groningen in the Netherlands, listed as the first author of new research that used AI to scan handwriting samples, which showed parts of the Dead Sea Scrolls could be at least a generation older than previously believed. While more study is needed, some caution that handwriting analysis alone is not definitive. The Dead Sea scrolls offer significant historical and religious knowledge, such as legal documents and the earliest known copies of the Hebrew Bible.
Learn More:
by Emily Hooker, based in Texas
