US Federal Reserve terminates enforcement action on Wells Fargo
Change
The US Federal Reserve terminated a nearly decade-old enforcement action against Wells Fargo, ending the formal remediation regime created after the 2018 fake-accounts scandal and noting that the asset cap associated with the action was lifted in 2025.
Why it matters
Removing the enforcement order eliminates the specific legal remedy that had imposed enforceable limits on the bank's operations and growth. Wells Fargo will revert to standard Federal Reserve supervision rather than operating under that distinct remediation regime.
Implications
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Source
Topics
Regulatory Actions Compliance Banking Regulation Financial Services