Wells Fargo said its profit rose in the second quarter, in which a years-long restriction on growth at the bank was lifted by the Federal Reserve.

The bank has closed seven regulatory punishments, known as consent orders, this year and 13 since 2019. It still has one remaining consent order from 2018. Consumers and businesses have continued to repay loans, allaying concern that shifting U.S. trade policies would trigger a recession. Still, uncertainty around the economic outlook persists.

Wells Fargo reported a rise in profits for the second quarter as it allocated less for potential bad loans. Despite a setback in interest income expectations, the bank is poised for growth after the U.