Wells Fargo & Company Confirms Termination Of 2016 OCC Sales Practices Consent Order

Wells Fargo & Company +0.04%

Wells Fargo & Company

WFC

80.60

+0.04%

https://www.occ.treas.gov/news-issuances/news-releases/2024/nr-occ-2024-15.html

The OCC terminates enforcement actions including when a bank has demonstrated compliance with all articles of an enforcement action or when the OCC determines that articles deemed "not in compliance" have become outdated or irrelevant to the bank's current circumstances. Termination actions include:

  • Order Terminating the Cease and Desist Order against Wells Fargo Bank, N.A., Sioux Falls, South Dakota, dated September 16, 2016 (Docket No. AA-EC-2016-66), for deficiencies and unsafe or unsound practices in the bank's risk management and oversight of the bank's sales practices, and unsafe or unsound sales practices by the bank. (Docket No. AA-ENF-2024-11)
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