Overview

• The asset cap was imposed in February 2018 after revelations that Wells Fargo employees opened fake accounts and exposed governance failures.
• On June 3, 2025, the Federal Reserve lifted the restriction, citing substantial progress in the bank’s governance and risk-management programs.
• Wells Fargo has paid over $3 billion in penalties, replaced senior executives and eliminated sales-based incentives to overhaul its compliance culture.
• In recent months the OCC, CFPB and Fed terminated several consent orders dating back to the scandal’s fallout.
• With the growth limit removed, Wells Fargo can resume expanding its balance sheet, including corporate deposits and trading operations.