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Unprecedented growth restrictions imposed on Wells Fargo & Co. will stay in place until the Federal Reserve's board agrees that the. that the limits would be lifted once Wells Fargo satisfied the Federal Reserve Bank of San.
Monday Morning Cup of Coffee: Federal Reserve Board to vote on lifting Wells Fargo’s growth restrictions May 14, 2018 / in Uncategorized / by Lindsay Following pressure from Sen. Elizabeth Warren, federal reserve chair jerome Powell has indicated that the Fed’s Board of Governors will hold a vote to decide whether or not to lift growth restrictions placed on the megabank.
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In addition to the growth restriction, the Board's consent cease and desist order with Wells Fargo requires the firm to improve its governance.
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The Federal Reserve Board chairman told Sen.. The letter, which was first reported by Reuters on Monday, came after Warren asked the Fed in October not to remove the asset growth restriction until Wells Fargo ceo tim sloan is replaced. growth cap will be lifted will be determined by a Fed board vote.
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