Buying into Charlie Scharf’s 5-year turnaround plan for Wells Fargo just got a bit cheaper

When Charlie Scharf took the reins at Wells Fargo five years ago, the bank was in turmoil. A series of scandals landed it in the regulatory doghouse — dealing a major blow to the 172-year-old firm’s reputation and leading to a multi-billion-dollar plunge in its stock market value.

Fast forward to 2024: Wells Fargo looks like a different bank altogether — and despite Friday’s post-earnings decline, the turnaround is still humming.

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