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 ...

A Wells Fargo customer was surprised to receive a "cryptic notice" and a cashier's check from the firm compensating him for ...

Wells Fargo's regulatory sanctions began after the fake accounts scandal was discovered in 2016. Since then, regulators identified additional problems with how the bank handled mortgages, auto ...

Wells Fargo beat second-quarter profit estimates on Tuesday but cut its 2025 guidance for net interest income, dropping ...

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 ...

The Federal Reserve is loosening a major restriction on Wells Fargo that was put in place following a fake accounts scandal nearly a decade ago, and the fourth-largest US bank will no longer have ...

Federal regulators have lifted Wells Fargo’s $1.95 trillion asset cap, its biggest penalty since the 2016 fake accounts scandal, allowing growth again.

For Wells Fargo, nearly a decade’s worth of scandals, federal regulatory action and a $1.95 trillion asset cap limiting the bank’s growth had its roots in 2016.

The fake accounts scandal cost Wells Fargo billions of dollars in fines and lost business, and permanently tarnished its reputation, particularly because the scandal broke only a few years after ...

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 ...

Federal regulators have lifted Wells Fargo’s $1.95 trillion asset cap, its biggest penalty since the 2016 fake accounts scandal, allowing growth again.