Wells Fargo in San Francisco has been released from another regulatory order.
The $1.9 trillion-asset company said in a press release that the Office of the Comptroller of the Currency terminated a 2018 consent order tied to its compliance risk management program. It is the tenth consent order closed by Wells Fargo’s regulators since 2019.
In recent weeks, Wells Fargo has been released from an order from the Consumer Financial Protection Bureau and two orders from the Federal Reserve.
“We are pleased that the OCC has validated the work required in the 2018 compliance consent order and has terminated the enforcement action,” Charlie Scharf, Wells Fargo’s CEO, said in the release.
“This development, along with the termination of three other consent orders in the last three weeks and the termination by the OCC of the 2016 sales practices consent order last year, is a huge accomplishment for the many thousands of people at Wells Fargo who have worked tirelessly to transform the company,” Scharf said.