The Federal Reserve Board announced the termination of its 2018 enforcement action against Wells Fargo after determining that the bank had met all required conditions. The 2018 action required Wells Fargo to demonstrate that improvements to its governance and risk management program were effective and to complete two third-party reviews of the enhancements. The remediation work spanned nearly a decade, and the action’s asset cap was removed in 2025 when the firm satisfied the conditions for its removal.
Federal Reserve Board 2026-03-05
Federal Reserve Board terminates 2018 Wells Fargo enforcement action after required conditions were met
The Federal Reserve Board has terminated its 2018 enforcement action against Wells Fargo, concluding the bank met all required conditions. The action involved governance and risk management improvements and two third-party reviews, with the asset cap lifted in 2025.