Federal Reserve ends 2 Wells Fargo consent orders

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.
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.
Fed ends two regulatory punishments imposed on Wells Fargo in 2011
The Federal Reserve announced on Tuesday it had terminated a pair of enforcement actions imposed on Wells Fargo in 2011, but said the bank's asset cap remained in place.
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
The closures have no impact on the Fed's 2018 consent order that required the bank to overhaul its governance and risk management processes and imposed a $2 trillion asset cap on the bank. Wells Fargo confirmed the terminations and said regulators have now closed nine consent orders since 2019.
Fed Terminates Two 2011 Enforcement Actions Against Wells Fargo
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 confirms termination of two Federal Reserve consent orders
Wells Fargo (WFC) confirmed that the Federal Reserve Board of Governors terminated two consent orders: a 2011 consent order regarding the
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 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 ...
American Banker2h
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 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 ...