Federal regulators moved to lift their punishment against Wells Fargo, which prevented its growth following the bank’s fake accounts scandal in 2018. The Federal Reserve Board of Governors voted Monday to remove an unprecedented restriction that had capped the bank’s assets at approximately $1.

Wells Fargo is shedding the last major link to the fake accounts scandal that dogged the bank: the Federal Reserve on Tuesday said that it would no longer cap how much the institution could grow. Why it matters: For the first time in seven years,

After the fed lifted an asset cap from Wells Fargo, CEO Charlie Scharf announced all full-time employees will get a $2,000 award