Wells Frago's (WFC) 2016 Consent Order Terminated by OCC
WFCWells Fargo(WFC) Zacks Investment Research·2024-02-17 01:40

Wells Fargo & Company (WFC) has crossed a major regulatory hurdle with the termination of the consent order by Office of Comptroller of Currency (OCC). The order was issued back in September 2016 on revelation of opening of millions of unauthorized accounts leading to misconduct in the company’s sales practices. The consent order required WFC to revamp the procedures followed by the bank in offering and selling its products and services to customers. As the bank has been complying with laws and regulations, ...