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Fed terminates enforcement action imposed on Wells Fargo due to fake accounts scandal

BY Reuters | ECONOMIC | 03/05/26 11:00 AM EST

WASHINGTON, March 5 (Reuters) - The U.S. Federal Reserve announced Thursday that it had terminated the enforcement action it imposed on Wells Fargo (WFC) following the bank's widespread fake accounts scandal, saying the bank had sufficiently overhauled its operations. The central bank said it was lifting the action after nearly a decade of remediation work by the bank. The 2018 action included the unprecedented asset cap on the bank's growth, which was lifted in 2025. (Reporting by Pete Schroeder)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

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