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Wells Fargo is the third-largest bank in the U.S. by assets, with $1.79 trillion as of February. It serves one in three U.S. households and more than 10% of small businesses in the country. Its stock surged more than 61% in 2021, as Wells Fargo produced a massive $21.5 billion in earnings—fueled in part by a post-pandemic resurgence in lending. But the financial giant continues to labor under a balance-sheet cap imposed by the Federal Reserve after its 2016 fake-accounts scandal. Other legal problems have bubbled up in 2022: In March, Wells Fargo was sued in California for alleged discrimination against Black mortgage borrowers. (The bank has denied that it discriminates in its lending.)  
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