Wells Fargo forecasts steady loan growth driven by credit cards and auto financing
CFO Mike Santomassimo says the bank is betting on new credit card products and auto financing. Credit quality remains solid as organic growth strategies scale.
Insights:
Wells Fargo & Company Chief Financial Officer Mike Santomassimo announced on February 10, 2026, that the bank expects to see overall loan growth this year, primarily driven by expansion in credit card and auto lending. Speaking at the UBS Group AG Financial Services Conference, Santomassimo stated that while the mortgage sector has faced challenges, the bank anticipates that mortgage declines will moderate over the coming months.
This strategic shift follows the Federal Reserve's removal of a $1.95 trillion asset cap in June, a regulatory limit that had previously constrained the bank's ability to grow. The removal of the cap is significant for the US 
US lender, as the bank says it now has the capacity to expand its balance sheet and scale new products and partnerships at the company level.
US lender, as the bank says it now has the capacity to expand its balance sheet and scale new products and partnerships at the company level.
