Wells Fargo Newsroom - Wells Fargo Confirms Termination of …
Feb 4, 2025 · 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’s regulators …
A Guide to All of Wells Fargo's Consent Orders | The Motley Fool
Oct 10, 2021 · Over the last year, Wells Fargo has seen some consent orders get lifted and has also been issued a new one. The consent orders may be one of the best ways for investors to track the...
Wells Fargo Confirms Termination of Two Longstanding Federal …
Feb 4, 2025 · Wells Fargo is a different company today, and the resolution of these two longstanding Federal Reserve consent orders is another indication that our team is establishing the right processes and ...
Fed terminates 2 Wells Fargo consent orders | Banking Dive
Feb 4, 2025 · The Federal Reserve terminated two consent orders Wells Fargo had been under since 2011, bringing its tally of closed consent orders up to nine since 2019.. The newly terminated orders both date to 2011. One concerns Wells’ legacy mortgage servicing activities; the other touches its legacy Wells Fargo Financial business.
Wells Fargo freed from a pair of 13-year-old consent orders
Feb 4, 2025 · The enforcement actions lifted Tuesday related to deficiencies in internal controls related to Wells' mortgage lending practices. The first order, which included an $85 million civil money penalty, focused on mortgage lending practices at a onetime subsidiary called Wells Fargo Financial. Between 2004 and 2008 certain salespeople "altered or falsified" prospective borrowers' incomes in order ...
Wells Fargo confirms termination of two Federal Reserve consent orders
Feb 4, 2025 · Wells Fargo’s regulators have now closed nine consent orders since 2019. Charlie Scharf, CEO, said, “I am happy to confirm that the Federal Reserve has terminated two longstanding consent orders.
Wells Fargo’s 2022 CFPB Consent Order Terminates
Jan 28, 2025 · 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. This is the seventh consent order closed by Wells Fargo’s regulators since 2019. Facade of a Wells Fargo bank branch in Manhattan (Photo: Wells Fargo) About Wells Fargo Wells ...
Wells Fargo's regulatory burden eases further as CFPB terminates …
Jan 28, 2025 · The top U.S. consumer watchdog has terminated a 2022 order punishing Wells Fargo for allegedly mishandling auto loans and mortgages, the bank said on Tuesday, bringing it a step closer to...
CFPB consent order ends in Wells Fargo mortgage, auto loans
Jan 28, 2025 · Wells Fargo saw the end of another one of its federal agency consent orders tied to prior problems, the bank announced Tuesday morning. In 2022, the Consumer Financial Protection Bureau...
Wells Fargo Bank, N.A. | Consumer Financial Protection Bureau
Dec 20, 2022 · The order required Wells Fargo to come into compliance with federal consumer financial law, pay more than $2 billion in consumer redress, and to pay a $1.7 billion penalty. Related documents. Consent order. Stipulation. Press releases. CFPB Orders Wells Fargo to Pay $3.7 Billion for Widespread Mismanagement of Auto Loans, Mortgages, and Deposit ...