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Wells Fargo confirms termination of 2 Fed 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.

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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.

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Wells Fargo confirms termination of two Fed consent orders

Wells Fargo (NYSE:WFC), which has been working for years to resolve a string of regulatory issues, confirmed on Tuesday that the Federal Reserve terminated two longstanding consent orders — a 2011 consent order regarding its legacy servicing activities and a 2011 consent order regarding its Wells Fargo Financial businesses.

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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 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 ...

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Wells Fargo confirms termination of 2 Fed consent orders

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