Fed Ends Wells Fargo's 2018 Enforcement Order, Restoring Growth Flexibility

The Federal Reserve issued a consent order against Wells Fargo on February 2, 2018, following scandals that included employees opening unauthorized customer accounts to meet sales targets. The order capped the bank's total assets at their year-end 2017 level of $1.95 trillion. The unusual restriction required its board to strengthen governance, compliance and enterprise-wide risk controls, curbing growth in deposits, lending and investment banking for years.

The Fed confirmed on March 5, 2026, that Wells Fargo had completed improvements to its governance and risk management and passed two independent third-party reviews, formally terminating the 2018 enforcement action. The $1.95 trillion asset cap had already been lifted on June 3, 2025; the latest move removes the remaining regulatory requirements. It brings the Fed's eight-year action to a full close and restores the bank's flexibility to expand across its businesses.