Wells Fargo Confirms Termination of 2018 OCC Compliance Consent Order
Wells Fargo (NYSE: WFC) announced the termination of its 2018 Office of the Comptroller of the Currency (OCC) consent order related to the company's compliance risk management program.
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Facade of a Wells Fargo bank branch in
Charlie Scharf, Wells Fargo’s CEO, said of today’s news:
“We are pleased that the OCC has validated the work required in the 2018 compliance consent order and has terminated the enforcement action. This development, along with the termination of three other consent orders in the last three weeks and the termination by the OCC of the 2016 sales practices consent order last year, is a huge accomplishment for the many thousands of people at Wells Fargo who have worked tirelessly to transform the company. We are a different company today than when the new management team arrived. We remain focused and confident in our ability to complete the work required in our remaining consent orders, while building one of the most respected financial institutions in the country.”
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately
Cautionary Statement About Forward-Looking Statements
This news release contains forward-looking statements about our future financial performance and business. Because forward-looking statements are based on our current expectations and assumptions regarding the future, they are subject to inherent risks and uncertainties. Do not unduly rely on forward-looking statements as actual results could differ materially from expectations. Forward-looking statements speak only as of the date made, and we do not undertake to update them to reflect changes or events that occur after that date. For information about factors that could cause actual results to differ materially from our expectations, refer to our reports filed with the Securities and Exchange Commission, including the discussion under “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2023, as filed with the Securities and Exchange Commission and available on its website at www.sec.gov.
News Release Category: WF-CF
View source version on businesswire.com: https://www.businesswire.com/news/home/20250213194465/en/
Media
Beth Richek, 980-308-1568
beth.richek@wellsfargo.com
Investor Relations
John
john.m.campbell@wellsfargo.com
Source: Wells Fargo & Company