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Wells Fargo nears full regulatory relief as CFPB lifts consent order

FILE PHOTO: A man walks from a branch of Wells Fargo bank in the University District of Seattle

A man walks from a Wells Fargo branch in the University District of Seattle on Dec. 6.

 Chris Helgren/reuters

Wells Fargo cleared its 12th consent order since 2019 and moved closer to fixing long-standing regulatory issues that have kept the bank under an asset cap of $1.95 trillion.

The Consumer Financial Protection Bureau, the top U.S. consumer watchdog, has lifted a 2018 consent order related to the lender's compliance risk management, Wells Fargo said on Monday.



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