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Federal Reserve lifts asset cap placed on Well Fargo

Wells Fargo freed from asset cap punishment imposed after fake account scandal

Federal regulators on Tuesday lifted Wells Fargo's $1.95 trillion asset cap punishment that had prevented the bank from growing for the past seven years. The Federal Reserve determined that Wells Fargo has met all the conditions required by the 2018 enforcement action for removal of the growth restriction,

The Des Moines Register on MSN · 1d

Fed lifts Wells Fargo asset cap, clearing bank for growth as it rebuilds from scandal

After the fed lifted an asset cap from Wells Fargo, CEO Charlie Scharf announced all full-time employees will get a $2,000 award

Washington Examiner · 1d

Federal Reserve lifts asset cap placed on Wells Fargo after 2018 fake accounts scandal

Federal regulators moved to lift their punishment against Wells Fargo that prevented its growth following the bank’s fake accounts scandal in 2018.

2don MSN

Wells Fargo scandals and sanctions entanglements began in 2016. Here’s the list

For Wells Fargo, nearly a decade’s worth of scandals, federal regulatory action and a $1.95 trillion asset cap limiting the ...

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Wells Fargo Says CFPB Financial Harm Consent Order Has Closed

Wells Fargo said Tuesday that its 2022 consent order with the Consumer Financial Protection Bureau relating to auto lending, consumer deposit accounts and mortgage lending has closed. In ...

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CONSUMER FINANCIAL PROTECTION BUREAU

the Consumer Financial Protection Bureau said Thursday, in a case that is deeply similar to the sales practices scandal uncovered at Wells Fargo last decade. Read full article: CFPB sues ...

1mon

Wells Fargo gets another federal penalty lifted, but still has 3 big ones to go

Wells Fargo’s CEO says the bank “is a different and stronger company today” after correcting its compliance problems.

National Mortgage News2d

Wells Fargo sheds asset cap, ending seven years of handcuffs

The San Francisco-based bank was long hamstrung by a regulatory order that kept it under $1.95 trillion of assets. Now Wells ...

1mon

Wells Fargo nears full regulatory relief as CFPB lifts consent order

Wells Fargo cleared its twelfth consent order since 2019 and moved closer to fixing longstanding regulatory issues that have ...

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