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 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.
The bank’s stock rises as it fulfills two disciplinary orders from the Federal Reserve related to its mortgage business — but ...
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 is moving closer to getting unshackled from the $1.95 trillion asset cap imposed on the bank following the 2016 fake-accounts scandal, recent reports suggest, and the fresh termination of ...
The Consumer Financial Protection Bureau closed a consent order, but notes that it continues to monitor Wells Fargo closely.
The order, the seventh terminated since 2019 for the bank, related to Wells’ auto lending, mortgage and consumer deposit ...
Wells Fargo Inc. (NYSE: WFC) shares are trading higher Tuesday after the Federal Reserve Board terminated two longstanding ...
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