2003 Volvo S60 AWD warning brake failure light comes on often. Dealer found no brake issues. Check engine light, ABS, traction control warning also occur 50% of time. There are no issues with any of these systems, just the stupid warning lights. Hoiw do I make them go away without spending a fortune?

First you need to have EBCM - electronic brake control module check for DTC'S - diagnostic trouble code's . If the light is on there is a code stored . I think most part stores can do this and for free . After you find out what code is stored , looking up that code in service repair information for diagnostic trouble shooting chart would be next step . There are a few codes too.
DTC C0035 or C0040
DTC C0045 or C0050
DTC C0110
DTC C0131
DTC C0161
DTC C0186
DTC C0196
DTC C0201
DTC C0240
DTC C0241 or P0856
DTC C0244 or P1689
DTC C0245
DTC C0283
DTC C0287
DTC C0290 or C0292
DTC C0455
DTC C0550
DTC C0558

Find the code do the diagnostic's , fix the problem , wiring issue's , a sensor , bad module ,what ever it is . The light will go out then . Here is a sample of code discription .
• DTC C0035 Left Front Wheel Speed Sensor Circuit
• DTC C0040 Right Front Wheel Speed Sensor Circuit

Traction Control Module - Swedespeed

forums.swedespeed.com > ... > XC90 (2003-2014)
Oct 1, 2007 - 21 posts - ‎10 authors ... at an '03 XC90 T6, which I am told needs a traction control module. ... Join Date: May 2005; Location: Wexford PA; Posts: 395 ... My transmission has been replaced twice this year. .... Quote, originally posted by volvodad ». Question about AWD and traction control
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PRE-DIAGNOSTIC INSPECTIONBefore diagnosing ABS/TCS, perform a comprehensive visual inspection of system as follows.Check ABS/TCS wiring harness connectors for looseness. Check harness routing; pay particular attention to wheel speed sensor wiring harness routing. Check fuses No. 1D, 5B and 6B in instrument panel fuse block. Check fuses No. 1 and 2 in underhood fuse block. Check brake fluid level in master cylinder reservoir. Check brake fluid level in Pressure Modulator Valve (PMV) assembly reservoir. Ensure parking brake is fully released. Ensure parking brake switch is functioning properly. Always perform ABS/TCS system functional check before using DIAGNOSTIC CODE CHARTSThe EBCM/EBTCM has self-diagnostic capability, which can detect system failures. Fault codes stored by EBCM/EBTCM can be displayed using Tech 1 scan tester. There are no provisions for flash code diagnostics.Begin ABS/TCS diagnosis with PRE-DIAGNOSTIC INSPECTION procedure. If failures are found during pre-diagnostic inspection, perform necessary repairs, and proceed with ABS/TCS FUNCTIONAL CHECK. See Fig. 5 .If no failures are found during pre-diagnostic inspection, go to ABS/TCS FUNCTIONAL CHECK. See Fig. 5 . The ABS/TCS FUNCTIONAL CHECK will either indicate ABS/TCS is functioning properly or direct technician to various diagnostic procedures such as diagnostic charts, symptom diagnosis or BRAKE warning light diagnosis.CHART D - TRACTION OFF WARNING LIGHT ON CONTINUOUSLY & NO DTC SET (BUICK WITH UH8 OR U2A INSTRUMENT CLUSTER)Circuit DescriptionWhen ignition switch is first turned to RUN position, EBTCM goes through a self-test, which lasts 2-4 seconds. During self-test, EBTCM commands TRACTION OFF indicator warning light on. Powertrain Control Module (PCM) can also command EBTCM to set a Code 75 which will illuminate TRACTION OFF indicator.Traction control switch is located either on instrument panel center trim plate or driver's front door trim panel. Switch allows driver to select traction control mode (on/off). When traction control system is turned off, TRACTION OFF warning light comes on.EBTCM monitors transaxle temperature through

So many lame responses...I went through this same experience and can tell you in my case it was the alternator. All of the warning lights such as the ABS light, airbag light, the warning about the brakes are all because the alternator is not providing the DC voltage all of the car's sophisticated electronics need to correctly monitor these subsystems' status. Mine left me high and dry by the side of Interstate 5 needing a tow. The low battery warning was off and on for about an hour before all of the other warning lights came on, and then about 5 minutes later every needle on the dash went to zero and the car died. After sitting waiting for the tow, it did start up again, but we got it towed to a dealer (thank god it got us within 8 miles of a dealer! the first warnings started when we were in the sticks) who diagnosed it as an alternator. $1200 and two days later and all is well again.

It sounds like some of your problem is in your ABS module. These commonly go bad. Contact this guy about a rebuild, http://home.earthlink.net/~vicrocha/ it's much cheaper than buying a new one. After that lets see what you still have malfunctioning.

YOU NEED TO HAVE THE LEARNED FEATURES OF THE INSTRUMENT CLUSTER RESET..NEEDS TO BE DONE WITH A SCANTOOL..IT IS TECHNICAL SERVICE BULLETIN FROM CHRYSLER..RECOMMEND YOUR LOCAL DEALER DO IT

Sounds like a bad ABS control module is at least part of your problem. The symptoms are usually and ABS and TRACS light intermittent or constand and eventually your speedometer works intermittently or totally quits. This guy rebuilds/upgrades them for about $140. New ones run over $800. http://home.earthlink.net/~vicrocha/Volvo_Parts/Volvo_ABS_removal.htm

Ok, check the brake fluid level for a start. This could mean a few things. Your brake pads might be worn down, which would bring a yellow warning light on(triangle), at the same time with the pads being low it will have displaced the fluid, making the level low, this would be a red light on. Now because of this the body control module has detected these faults, will have turned the abs off, hence the abs light.
If brake fluid is low, this could confirm my theory.
If its low, top up with dot 5 brake fluid and take to garage to have new pads fitted.

TL

it is most likely that the abs module is faulty,, if the fault codes are read and it shows a fault with the right rear sensor then the module is faulty,,they usually go wrong at about 110//140k

yes change it yourself but you will have to take it to dealer to be reset no doubt ,then you will lay the golden egg for them