• President Trump, who had promised to rein in the Consumer Financial Protection Bureau (one of the regulators that had punished Wells Fargo) said that the agency’s fines against the lender would not be reduced.

• The bank offered refunds to mortgage customers who were improperly charged fees.

• The bank’s C.E.O. at the time, John Stumpf, was effectively ousted.

• About $75 million of compensation was clawed back from Mr. Stumpf and the former head of community banking, Carrie Tolstedt.

What the Fed said in its statement today:

The board’s action will restrict Wells Fargo’s growth until its governance and risk management sufficiently improves but will not require the firm to cease current activities, including accepting customer deposits or making consumer loans.

And here’s what Janet Yellen, in one of her final acts as Fed chairwoman, said of the latest punishments for Wells Fargo:

“We cannot tolerate pervasive and persistent misconduct at any bank and the consumers harmed by Wells Fargo expect that robust and comprehensive reforms will be put in place to make certain that the abuses do not occur again.”

Shares in Wells Fargo were down nearly 6 percent in after-hours trading.

How Wells Fargo will comply with the Fed’s orders

In a lengthy news release, the bank outlined a number of steps that it will take to satisfy the regulator’s demands.

Among them:

• Submitting plans to further improve both corporate governance and compliance operations

• Have third parties conduct reviews of those plans and how well they work