Federal regulators have lifted Wells Fargo’s $1.95 trillion asset cap, its biggest penalty since the 2016 fake accounts scandal, allowing growth again.

Wells Fargo & Co. has cleared a major obstacle to its growth plans, opening the way for the bank to grow after years of restrictions related to its fake-accounts scandal.

Wells Fargo Is Allowed to Grow Again After 7 Years Under Asset-Cap Penalty. Fourth-largest U.S. bank can gather deposits, increase loans and expand its Wall Street businesses. By .

The Federal Reserve has lifted restrictions imposed on Wells Fargo's growth seven years ago following a series of scandals, including one where staff set up fake accounts.

Wells Fargo & Co. finally escaped a Federal Reserve asset cap that has restricted its size for more than seven years, unleashing the firm from the unprecedented punishment in a major win for Chief ...

The Federal Reserve said it has removed restrictions it had placed on Wells Fargo, the prominent San Francisco bank that has sought to move past a series of scandals in the last decade.

Wells Fargo can mark your account as “dormant” if there’s been no real activity for over 16 months. Wells Fargo is closing inactive accounts, and it may start affecting more customers in June.

The growth cap imposed on Wells Fargo & Co. since 2019 seemed a uniquely harsh punishment by US watchdogs, constricting the bank’s growth through a period when some rivals bloomed.

WEST FARGO — A West Fargo ordinance would make it illegal to sleep in storage units, camp in tents, or spend the night in a camper or trailer on the street. City Commissioner Brad Olson said he ...

The deal, which the U.S. banking giant said will not have a material impact on its financial position or earnings, includes the entire rail operating lease assets valued at around $4.4 billion, as ...

Sen. Elizabeth Warren (D-Mass.) and a CNBC anchor sparred Wednesday over the Federal Reserve’s decision to scrap an unprecedented penalty on Wells Fargo. In an interview with CNBC’s Sara Eisen ...

In early 2018, the Federal Reserve hit Wells Fargo with an unprecedented penalty for a yearslong record of misconduct: an asset cap that prevented the bank from growing. On Tuesday, the Fed lifted ...