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Wells Fargo let out of the doghouse as Fed lifts restrictions placed on it in 2018 over its fake-accounts scandal

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It's a win for Wells Fargo, which has spent nearly a decade trying to convince the public and policymakers that it had changed its ways.
Wells Fargo is emerging from a period of regulatory scrutiny as the Federal Reserve has lifted certain restrictions imposed in 2018 following the bank's accounts scandal. The Fed's decision allows Wells Fargo to increase its asset size, previously capped, signaling a vote of confidence in the bank's efforts to reform its practices. The bank had been under a strict asset cap due to the scandal involving the creation of millions of unauthorized accounts. Despite this positive development, Wells Fargo still faces challenges, including ongoing legal battles and the need to rebuild trust with customers and investors. The lifting of the restrictions is seen as a crucial step in the bank's recovery and a sign that its remediation efforts are paying off.

Read the Full Fortune Article at:
[ https://fortune.com/2025/06/04/wells-fargo-doghouse-fed-lifts-restrictions-placed-2018-accounts-scandal/ ]