The U.S. Office of the Comptroller of the Currency or OCC terminated a 2015 order over add-on products that Wells Fargo improperly sold to retail banking customers before 2015.
The termination of the 2015 consent order is a step in this work, as the company continues to focus on resolving legacy regulatory issues, Wells Fargo said in a statement.
In September 2021, a Consumer Financial Protection Bureau consent order issued in 2016 regarding the bank's retail sales practices expired.
In January 2021, the OCC terminated a 2015 consent order related to the company's Bank Secrecy Act/Anti-Money Laundering compliance program. In May 2020, the OCC upgraded Wells Fargo's Community Reinvestment Act rating to "outstanding."
by RTTNews Staff Writer
For comments and feedback: editorial@rttnews.com