Wells Fargo and Citigroup have room to buy a big bank. These 5 regionals fit the bill
CNBC reports that Wells Fargo and Citigroup are the only U.S. megabanks with room under the 10% national deposit cap to acquire a large regional bank. Wells Fargo CEO Charlie Scharf has signaled openness to a "transformative deal," whereas Citi's CEO says the bank is focused on organic growth, not M&A.
Why it matters — A WFC watcher would care because it indicates the bank has legal capacity and expressed leadership interest in a potentially transformative acquisition of a regional bank.