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 Federal Reserve announced on Tuesday it had terminated a pair of enforcement actions imposed on Wells Fargo in 2011, but ...
Both orders were issued in 2011 and address mortgage business issues. Wells has resolved nine consent orders since 2019, and ...
The bank’s stock rises as it fulfills two disciplinary orders from the Federal Reserve related to its mortgage business — but ...
In 2011, the bank was ordered to pay an $85M civil penalty, the largest the Fed had assessed in a consumer-protection ...
The Federal Reserve has informed Wall Street banks that they will not be required to participate in climate stress tests, according to Bloomberg News. The decision affects lenders such as JPMorgan ...
Six major U.S. banks won't be required to make submissions for the Fed's Climate Scenario Analysis Exercise because that program's been shut down, sources say.
The bank — once the envy of the industry — could finally be allowed to grow again.Most Read from BloombergNew York’s First ...
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.
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