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The OCC's 2016 consent order sought changes in the way Wells Fargo offered and sold products and services to consumers, and required the lender to take additional actions to protect its customers ...
The CFPB and OCC fined Wells Fargo $1 billion relating to unfair practices with mortgage rate fixing and auto loan insurance.
The class-action suit was filed in 2020 in federal court for the Southern District of New York. It focused on Wells Fargo’s actions in dealing with 2018 consent orders it had with its regulators.
Operation Choke Point was an initiative of the United States Department of Justice beginning in 2013 [1] which investigated banks in the United States and the business they did with firearm dealers, payday lenders, and other companies that, while operating legally, were said to be at a high risk for fraud and money laundering.
On June 21, 2012, the Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve System released a financial remediation framework Agencies release financial remediation guidance, extend deadline for requesting a free independent foreclosure review to September 30, 2012 that provided examples of errors in foreclosures covered by the regulators' consent orders ...
In August 2012, the SEC charged Wells Fargo for improperly selling asset-backed commercial paper (ABCP) structured with high-risk mortgage-backed securities and collateralized debt obligations (CDOs) to municipalities, non-profit institutions, and other customers, almost exclusively upon the basis of their credit ratings. [103]
The news sent Wells Fargo's stock up sharply Thursday as investors speculated that the bank, which has been kept under a tight leash by regulators for years, may be able to rebuild its reputation ...
Wells Fargo has agreed to a pay $1 billion to settle a lawsuit filed by its shareholders who alleged the bank made misleading statements about its compliance with federal regulators after a fake ...