Wells Fargo

Large institutions say their strong capital positions allow them to reward investors, and the Fed agrees. But critics say this is the time to be preparing for a sharp downturn and continue helping those hurt by the coronavirus pandemic.

Jamie Dimon of JPMorgan Chase, Brian Moynihan of BofA, Michael Corbat of Citi and Charlie Scharf of Wells Fargo are some of the business leaders from multiple industries being asked to help the White House revive the economy as the coronavirus pandemic shows signs of easing in some parts of the country, the president says.

Its prediction that business conditions will remain weak this year — and into next year — stands in stark contrast to forecasts from political leaders that the economy will rebound quickly from the coronavirus pandemic.

Just days after the Fed lifted Wells Fargo's asset cap so it could make more Paycheck Protection Program loans, it warned customers its queue is long and they may want to go elsewhere before program funds are exhausted.

Parties talking about a temporary lift of Wells' asset cap; GDP would have to drop an “unlikely” 35% in Q2 before JPMorgan would be forced to stop payouts.