The Federal Reserve said it has removed restrictions it had placed on Wells Fargo, the prominent San Francisco bank that has sought to move past a series of scandals in the last decade.

Wells Fargo is shedding the last major link to the fake accounts scandal that dogged the bank: the Federal Reserve on Tuesday said that it would no longer cap how much the institution could grow. Why it matters: For the first time in seven years,

For seven years, the bank was forbidden to grow as punishment for misconduct including creating fraudulent bank accounts and mistakenly seizing homes.