**Federal Reserve Lifts Asset Growth Restriction on Wells Fargo**

The Federal Reserve has announced that Wells Fargo is no longer bound by the asset growth limitation imposed in the 2018 enforcement action. This decision indicates that the bank has fulfilled all conditions necessary for the removal of the restriction.

In 2018, a critical enforcement action required Wells Fargo to enhance its governance and risk management practices. As part of these requirements, an independent third-party was to review the bank's enhancements. This progress has been thoroughly assessed by both the external reviewers and the Federal Reserve.

The lifting of the asset growth restriction is a testament to the considerable progress Wells Fargo has made in rectifying its previous management flaws. Despite this advancement, the Federal Reserve stated that remaining provisions from the 2018 action will stay in force until the bank meets the conditions for their removal.