Wells Fargo Says OCC Closes Order Tied to Compliance Risk-Management Program

Dow Jones

Feb 14, 2025

By Paul Ziobro

Wells Fargo said that the Office of the Comptroller of the Currency has terminated its 2018 consent order related to the financial services company's compliance risk management program.

The action represents the tenth consent order closed by Wells Fargo regulators since 2019.

Wells Fargo Chief Executive Charlie Scharf said the termination shows that the OCC has validated its work required in consent order.

The latest decision comes after Wells Fargo earlier this month said that the Federal Reserve had also closed two 2011 consent orders related to its previous loan-servicing, foreclosure-processing and mortgage-lending practices.

Before that, the Consumer Financial Protection Bureau terminated its 2022 consent order against the bank.

Write to Paul Ziobro at paul.ziobro@wsj.com

(END) Dow Jones Newswires

February 13, 2025 17:04 ET (22:04 GMT)

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foreclosure-processing and mortgage-lending practices. \n\n\n  Before that, the Consumer Financial Protection Bureau terminated its 2022 consent order against the bank. \n\n\n \n\n\n  Write to Paul Ziobro at paul.ziobro@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  February 13, 2025 17:04 ET (22:04 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}