Wells Fargo & Co. finally escaped a Federal Reserve asset cap that has restricted its size for more than seven years, unleashing the firm from the unprecedented punishment in a major win for Chief Executive Officer Charlie Scharf.

Wells Fargo (NYSE:WFC) aims to build up corporate and investment bank and expand its branded credit-card business, among its list of plans to grow the bank after seven years of being constrained by a $1.

The lawmakers criticized the regulator for a lack of specificity in its public notice about why removing a limit on the amount of assets the bank of assets can hold was warranted