That included former CEO John Stumpf, who was ordered to pay $17.5 million. In May 2023, Wells Fargo was settling a class-action lawsuit from shareholders for $1 billion over claims the bank ...

In 2011, the bank was ordered to pay an $85M civil penalty, the largest the Fed had assessed in a consumer-protection enforcement action.

In its paperwork, BofA now uses “opportunity” in place of diversity. Wells, meanwhile, scrapped its diverse-slate interview ...

Being freed from the 2011 orders "is another important sign that we continue to make clear, meaningful progress to resolve our historical matters," Wells Fargo CEO Charlie Scharf said ... Scharf, a ...

What To Know: The terminated consent orders date back to 2011 and were related to Wells Fargo's legacy mortgage servicing activities and its former Wells ... concerns. CEO Charlie Scharf ...

The former asserted that Wells and ... progress to resolve our historical matters,” CEO Charlie Scharf said in a prepared statement. “Wells Fargo is a different company today, and the ...

Wells Fargo’s regulators have now closed nine consent orders since 2019. Charlie Scharf, CEO, said, “I am happy to confirm that the Federal Reserve has terminated two longstanding consent orders.