Wells Fargo & Co. (WFC)'s John Stumpf, who leads one of the most valuable banks in UNITED STATE history, said the nation's economic situations will certainly increase quicker next year compared to economic estimate and that some financial regulation is reducing.

‘While we don't anticipate next year being a breakout year, we're probably on the top end of expectations of the consensus of economists,’ the San Francisco-based lender’s chief executive officer said today in an interview on Bloomberg Television. ‘This is a very diverse economy.’

Automobiles, agriculture & commercial real estate are among industries doing well, Stumpf said. The U.S. economic will grow at 3 % next year, according to the median estimate of 87 economists polled last month by Bloomberg. The estimates ranged from 1.5 % to 4.2 %.

Wells Fargo finished ended last week as one of the most important U.S. bank ever, exceeding Citigroup Inc.'s 2001 record with a market capitalization of $285.5 billion. The company, which counts Warren Buffett's Berkshire Hathaway Inc. as its biggest shareholder, doubled in size with its 2008 purchase of Wachovia Corp. and now oversees the most U.S. branches and makes about one of every 4 home loans in the country.

Legislation and Regulation have swung too much in the direction of being excessively restrictive, even as rules tied to real estate and also rules services used by immigrants to send money home have eased, Stumpf said.

Wells Fargo got 4 cents to $55.07 at 11:44 a.m. in New York. The shares have actually climbed up 21 % this year, topping the 8.2 % advance of the 24-company KBW Bank Index.

Citigroup set the previous market-value record for a U.S. bank on Feb. 5, 2001, when it reached $283.4 billion, the information show.