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.
The order, the seventh terminated since 2019 for the bank, related to Wells’ auto lending, mortgage and consumer deposit ...
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