Federal Reserve ends 2 Wells Fargo consent orders

Two more Wells Fargo federal consent orders terminated. But growth cap remains for now
In 2011, the bank was ordered to pay an $85M civil penalty, the largest the Fed had assessed in a consumer-protection enforcement action.
Wells Fargo gains termination of two more Federal Reserve consent orders
Wells Fargo & Co. has narrowed by two the number of outstanding consent orders with the Federal Reserve Board, but the $1.9 trillion total asset cap established in February 2018
Fed Ends Two Regulatory Punishments Imposed on Wells Fargo in 2011
Wells Fargo has seen numerous regulators move to lift enforcement actions in recent months. Last month, the Consumer Financial Protection Bureau closed a 2022 order against the bank over its alleged mishandling of auto loans and mortgages.
Wells Fargo federal consent order ends. It covered mortgage, other account ‘mismanagement’
In 2022, the CFPB had ordered the bank to pay $3.7 billion for ‘widespread’ problems with its auto loans, mortgages and deposit accounts.
Wells Fargo gains termination of seventh federal regulatory consent order
Wells Fargo & Co. said Tuesday the Consumer Financial Protection Bureau has terminated its 2022 consent order related to automobile lending, consumer deposit accounts, and mortgage lending products and services.
Wells Fargo exits consent order. Is more regulatory progress coming?
Analysts say the termination of a 2022 consent order with the CFPB is a sign that the bank's days under an asset cap may be numbered. But the consumer bureau, still led by Director Rohit Chopra, says Wells is still being scrutinized as a repeat offender.
Fed terminates 2 Wells Fargo consent orders
Both orders were issued in 2011 and address mortgage business issues. Wells has resolved nine consent orders since 2019, and five remain, the bank said.
Wells Fargo Says Fed Closes Two Longstanding Enforcement Actions Against It
One pertained to deficient practices in Wells Fargo's residential mortgage loan servicing and foreclosure processing. The other was related to the mortgage lending practices of a former subsidiary, Wells Fargo Financial.
Fed Ends Two Wells Fargo Orders Tied to Mortgage Practices
The Federal Reserve terminated two mortgage-related enforcement actions against Wells Fargo & Co. from more than a decade ago, the central bank said Tuesday.
Wells Fargo clears two more regulatory hurdles as asset cap remains
Those two orders were imposed in 2011 due to deficiencies in the bank's legacy mortgage servicing business and Wells Fargo Financial unit. Charlie Scharf, Wells Fargo's CEO who has led the company since 2019,
Wells Fargo Says CFPB Financial Harm Consent Order Has Closed
Wells Fargo said that its 2022 consent order with the Consumer Financial Protection Bureau relating to auto lending, consumer ...
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Wells Fargo released from 2022 CFPB consent order
The order, the seventh terminated since 2019 for the bank, related to Wells’ auto lending, mortgage and consumer deposit ...
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Wells Fargo freed from a pair of 13-year-old consent orders
The Federal Reserve Board lifted two enforcement actions against the megabank dating back to 2011. But the Fed's seven-year-old asset cap remains in effect.
Wells Fargo clears another postscandal regulatory hurdle — but more remain
The bank’s stock rises as it fulfills two disciplinary orders from the Federal Reserve related to its mortgage business — but ...
Wells Fargo Shares Are Up Today: What's Going On?
Wells Fargo Inc. (NYSE: WFC) shares are trading higher Tuesday after the Federal Reserve Board terminated two longstanding ...