Governance
Federal Reserve imposes unprecedented asset cap on Wells Fargo
Feb 2, 2018
Fed ordered Wells Fargo to cap total assets at approximately $1.95 trillion until the company sufficiently improves governance and controls. Most significant Fed enforcement action against a major bank in modern history. Cap remained in effect until June 2025.
Key Details
Agency
Federal Reserve
Date
February 2, 2018
Severity
Critical
Location
Corporate-wide
Domain
Governance