** Piper Sandler says the U.S. Consumer Financial Protection Bureau (CFPB) terminating a 2022 consent order related to auto lending, consumer deposit accounts and mortgage lending is another step forward for Wells Fargo WFC.N on its path to full regulatory remediation
** The termination was the seventh consent order to be closed by WFC's regulators since 2019
** Brokerage says while the consent order removal is not the big one, i.e the asset cap, the development is a sign that WFC continues its transition from defense to offense
** Adds the latest consent order termination will likely reinforce investors' belief that the asset could be lifted sooner than later
** The Federal Reserve had imposed a $1.95 trillion asset cap in 2018 that prevents WFC from growing until regulators deem it has fixed failings in its governance and risk management
** Piper Sandler expects WFC shares to respond well to the consent order termination
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
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