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Federal Reserve Board Announces Termination Of Enforcement Action With Wells Fargo
(MENAFN- The Federal Reserve)
The Federal Reserve Board on Thursday announced the termination of its 2018 enforcement action against Wells Fargo, following its determination that the bank had met all required conditions.
Under the 2018 enforcement action, the bank was required to demonstrate that improvements to its governance and risk management program made the program effective, and completed two third-party reviews of these improvements. This remediation work spanned nearly a decade. The original enforcement action also imposed an asset cap which was removed in 2025 when the firm satisfied the conditions for removal.
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