The Fed is lifting Wells Fargo’s asset cap so it can help lend to small business

The Federal Reserve is lifting the asset cap it has imposed on Wells Fargo so the bank can participate in the government’s small business lending program.

In a move that was expected, the central bank said Wells will have to return proceeds it gets from the Payment Protection Plan and a coming Main Street lending program either back to the Treasury Department or to a nonprofit.

The Fed had…

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