Wells Fargo & Company (NYSE: WFC) today confirmed that the Consumer Financial Protection Bureau’s (CFPB) 2018 consent order related to the company’s compliance risk management program has terminated.
This is the twelfth consent order closed by Wells Fargo’s regulators since 2019 and the sixth since the beginning of the year.
Charlie Scharf, Wells Fargo’s CEO, said of today’s news:
"Today’s termination, along with the recent closure of other consent orders, demonstrates that we have completed much of our common risk and control infrastructure work, including work that is required by other orders. I am proud of the work done by our teams and remain confident that we will complete the work needed to close our other open consent orders. Wells Fargo is a different and stronger company today as we focus on creating long-term value for our customers, clients, communities and shareholders."