When the Federal Reserve in June lifted the $1.95 trillion asset cap it imposed on Wells Fargo back in 2018 as punishment for a widespread scandal involving the creation of fake customer accounts, CEO ...

The asset cap was Wells Fargo's biggest penalty stemming from its 2016 fake accounts scandal. From 2002 to 2016, thousands of Wells Fargo's Community Bank employees opened millions of unauthorized ...

Wells Fargo stock soared more than 2% in after-hours trading following the announcement. Shares had closed at $75.65, up from $59.34 a year ago. The bogus accounts scandal toppled two Wells Fargo ...

Thursday. It was the 13th consent order closed by banking regulators since 2019, Wells Fargo said. That leaves it with one last major sanction — a consent order issued by the Federal Reserve in ...

Wells Fargo Freed From Asset Cap Imposed After Fake-Accounts Scandal Fourth-largest U.S. bank will be allowed to grow again after years in purgatory By Gina Heeb Share ...

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.

After an investigation by The Los Angeles Times in 2016, Wells Fargo shut down its sales culture and fired much of its leadership and board of directors. The fake accounts scandal cost Wells Fargo ...

The Wells Fargo financial scandal in 2016 diminished consumer trust in traditional banks while driving homebuyers to fintech lenders for mortgages, a University of California, Davis study suggests.

Wells Fargo’s nearly $2 trillion asset cap punishment by the Federal Reserve has meant the fourth-largest bank in the U.S. couldn’t grow in the wake of its massive fake sales account scandal.

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 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 Gina Heeb Share ...

Fed lifts restrictions placed on Wells Fargo in 2018 because of its fake-accounts scandal The fake accounts scandal cost Wells Fargo billions of dollars in fines and lost business, and permanently ...