Wells Fargo is drafting plans that could cut tens of thousands of jobs starting this year, people familiar with confidential talks told Bloomberg.

The Federal Reserve on Thursday temporarily restricted shareholder payouts by the nation’s biggest banks, barring them from buying back their own stocks or increasing dividend payments in the third quarter as regulators try to ensure banks remain strong enough to keep lending through the pandemic-induced downturn.

Aggressive debt collection is key to Capital One’s profitability.