The lawmakers criticized the regulator for a lack of specificity in its public notice about why removing a limit on the amount of assets the bank of assets can hold was warranted

In the scandal’s wake, the Federal Reserve imposed an unprecedented $1.95 trillion asset cap, the most significant of the many penalties Wells Fargo faced from regulators. For over seven years, the bank was essentially shackled in place while watching as rivals like Charlotte-based Bank of America continued to grow.

Wells Fargo's asset cap is lifted after 7 years, unlocking growth potential. Explore the Series L preferred's yield benefits and competitive insights.