Wells Fargo Clears a CFPB Consent Order. ‘Serious Issues’ Remain, Agency Says.
The Consumer Financial Protection Bureau closed a consent order, but notes that it continues to monitor Wells Fargo closely.
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 account services.
Wells Fargo’s 2022 CFPB Consent Order Terminates
Wells Fargo & Company (NYSE: WFC) today announced that its 2022 consent order with the Consumer Financial Protection Bureau related to automobile lending, consumer deposit accounts, and mortgage lending has terminated.
Wells Fargo ends 2022 CFPB consent order
Wells Fargo has ended a 2022 consent order with the Consumer Financial Protection Bureau that targeted the bank’s auto loan practices
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 Confirms Termination of Two Longstanding Federal Reserve Consent Orders
Wells Fargo & Company (NYSE: WFC) today confirmed that the Federal Reserve Board of Governors terminated two longstanding consent orders: a 2011 consent order regarding the company’s legacy mortgage servicing activities and a 2011 consent order regarding its legacy Wells Fargo Financial business.
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
Federal Reserve ends two Wells Fargo consent orders
NEW YORK - Wells Fargo & Company (NYSE: NYSE:WFC) announced today that the Federal Reserve Board has lifted two longstanding consent orders against the bank. These regulatory orders, dating back to 2011,
Wells Fargo's regulatory burden eases further as CFPB terminates 2022 punishment
The top U.S. consumer watchdog has terminated a 2022 order punishing Wells Fargo for allegedly mishandling auto loans and ...
Elizabeth Warren Urges Trump to Support CFPB Efforts to Fight Debanking
Democratic Senator Elizabeth Warren urged President Donald Trump to work with regulators to stop what she called unjustified ...
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 ...
bankingdive2d
Chopra leaves CFPB in widely expected move
President Donald Trump designated Treasury Secretary Scott Bessent as the bureau’s acting chief, according to a statement ...
Wells Fargo moves step closer to getting Fed’s asset cap removed
The asset cap’s removal will be a pivotal moment for Wells Fargo and could be timed with the bank announcing a headquarters ...
American Banker1d
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.
HousingWire2d
Trump fires CFPB Director Rohit Chopra
President Trump fired Rohit Chopra, the director of the Consumer Financial Protection Bureau (CFPB) on Saturday.
Trump fires chief of the federal consumer watchdog agency
Rohit Chopra had led the Consumer Financial Protection Bureau since 2021. Consumer groups praised his leadership, while Republicans have frequently attacked the agency.