How BofA, Wells Fargo performed in this year's stress testing

Charlotte's two largest banks passed the latest round of the Federal Reserve's stress testing. Bank of America Corp. (NYSE: BAC) and Wells Fargo & Co. (NYSE: WFC) were two of 18 banks that participated in this year's Dodd-Frank Act Stress Test, representing about 70% of all bank assets in the United States. Smaller and less complex banks were not tested in this round. The Fed set up a "severely adverse" scenario to test the banks. That scenario included a global recession with the U.S. unemployment…

from Charlotte Business News - Local Charlotte News | Charlotte Business Journal https://www.bizjournals.com/charlotte/news/2019/06/24/how-bofa-wells-fargo-performed-in-this-years.html?ana=RSS&s=article_search