Wells Fargo & Co. has cleared a major obstacle to its growth plans, opening the way for the bank to grow after years of restrictions related to its fake-accounts scandal.

In a historic moment for the U.S. financial industry, the Federal Reserve said on Tuesday that it lifted the unprecedented growth restriction it imposed on Wells Fargo, the country’s third-largest bank,

Wells Fargo was released from a punitive, seven-year-long $1.95 trillion cap on its assets on Tuesday after the U.S. Federal Reserve lifted the regulatory measure, allowing the bank to pursue unimpeded growth.