Charlie Scharf’s most immediate priorities will be mending fences with regulators and getting the bank out from under a Fed-imposed asset cap. But he also must come up with strategies for spurring revenue growth and reining in expenses.

The Fed’s top regulatory official said how agencies adjust their supervisory approach may prove just as important as their rulemaking efforts.

Caught in the middle of a credit-subsidy debate, the program would have shut down on Tuesday without congressional action.

A research paper says the president’s constant criticisms are driving Fed policy, directly or indirectly; the huge demand by banks for cash may be the result of tougher regulations.

Scharf next month will become the fourth leader at Wells Fargo in three years. Meanwhile, Bank of New York Mellon has named Thomas P. "Todd" Gibbons as acting chief executive.