Wells Fargo fails 'living will' test, faces restrictions

Wells Fargo is facing more trouble.

U.S. regulators announced yesterday the company would damage financial markets if it were pushed to bankruptcy. 

The nation's largest banks must offer regulators 'living wills' that outline how they would be unwound in an orderly way.

Because Wells Fargo failed the test, it now faces restrictions. Specifically, it cannot establish international bank entities or acquire non-bank subsidiaries.

Read more from Reuters.