REGULATORY · USA
Fed ends Wells Fargo enforcement action
Change
On March 5, 2026, the U.S. Federal Reserve terminated its enforcement action on Wells Fargo tied to the fake-accounts scandal, citing sufficient operational overhauls.
Why Now
On March 5, 2026, the Federal Reserve terminated the enforcement action it imposed on Wells Fargo following the bank’s fake-accounts scandal. The Federal Reserve stated it lifted the action because Wells Fargo had sufficiently overhauled its operations. The Federal Reserve said the termination followed nearly a decade of remediation work by the bank. The enforcement action dated to 2018 and included an asset cap on Wells Fargo’s growth. The asset cap was lifted in 2025.
Impact
- • The Federal Reserve enforcement action tied to the fake-accounts scandal is no longer in effect.
- • The 2018 asset cap on Wells Fargo’s growth is not in place (lifted in 2025).
Who Recalculates
- • Wells Fargo management
- • Bank compliance and risk management functions
- • Bank shareholders and investors
Source
Topics
Law & Public Safety Regulatory Actions Compliance Finance & Banking Banking Regulation