The cited record supports the material proposition.
The Federal Reserve announced on 3 June 2025 that Wells Fargo is no longer subject to the asset growth restriction imposed in its 2018 enforcement action.
- Claim made by
- Board of Governors of the Federal Reserve System, regulator statement
- Published
- 3 June 2025
- Evidence score
- 92 How it was scored
- Last reviewed
- 25 October 2026
Why this label
The Federal Reserve release states that the asset cap was lifted after the bank met the conditions, including a third-party review of governance and risk managementS6. It says the other provisions of the 2018 action stay in effect until the bank meets the requirements to end themS6. So the claim is supported, but it does not mean the 2018 action has ended. Earlier records show why the restriction mattered. The 2022 CFPB order cited conduct affecting over 16 million consumer accountsS5. This review found no later Federal Reserve step reimposing a cap as of October 2026.
Current procedural position
Asset growth restriction removed by the Federal Reserve on 3 June 2025. Remaining provisions of the 2018 enforcement action in effect as last statedS6.
Record supporting the assessment
Wells Fargo is no longer subject to the asset growth restriction
Conflicting or limiting record
No record located that conflicts with this assessment.
Evidence score: 92 of 100
The score grades how well the record establishes this assessment. It is not a score of Wells Fargo & Company. Score = source authority + directness + corroboration + procedural accuracy + currency + reproducibility.
| Component | Points | Max | Reason |
|---|---|---|---|
| Source authorityIs the source competent to establish the proposition? | 30 | 30 | The Federal Reserve is the issuing authority of the restriction. |
| DirectnessDoes the source state the proposition or only discuss adjacent facts? | 20 | 20 | The release states the removal in its title. |
| CorroborationDo independent records support the same material point? | 9 | 15 | Only the Federal Reserve release was read for this point. |
| Procedural accuracyDoes the record settle the procedural state the claim describes? | 14 | 15 | Removal by the issuing authority is final for the cap. |
| CurrencyHas the record been checked against later developments? | 9 | 10 | No later reversal was found. |
| ReproducibilityCan a reader locate the passage and repeat the assessment? | 10 | 10 | The release is on federalreserve.gov. |
| Total | 92 | 100 |
Timeline
Related cases
- In the Matter of Wells Fargo Bank, N.A.Consumer Financial Protection Bureau. Regulatory. Not published.Stage: Order requiring over US$2 billion in redress and a US$1.7 billion civil penalty.
- CFPB order announcedS5
Revision history
- Assessment first published with label Supported.
Have a record that changes this assessment? See corrections and responses.
Sources
- S6Tier A Federal Reserve announces Wells Fargo is no longer subject to the asset growth restriction from the Board’s 2018 enforcement action against the bankBoard of Governors of the Federal Reserve System. Regulator press release. 3 June 2025.Supports the removal of the asset cap. It says the other 2018 provisions remain until the bank meets the terms for ending them.Link working, checked 25 October 2026
- S5Tier A CFPB Orders Wells Fargo to Pay $3.7 Billion for Widespread Mismanagement of Auto Loans, Mortgages, and Deposit AccountsConsumer Financial Protection Bureau. Regulator press release. 20 December 2022.Supports the 2022 order and its amounts. It concerns conduct other than the 2016 accounts.
Other claims about Wells Fargo & Company
- Supported92The CFPB said in September 2016 that Wells Fargo employees opened roughly 1.5 million deposit accounts and applied for roughly 565,000 credit card accounts that may not have been authorized by consumers.Regulator statement, 8 September 20164 records citedFraud
- Outdated85Wells Fargo said in September 2016 that refunded accounts were a fraction of one percent of the accounts reviewed and that it had disciplined managers and team members who acted counter to its values.Company statement, 8 September 20164 records citedFraud