Wells Fargo Confirms Termination of 2021 OCC Loss Mitigation Consent Order
Wells Fargo (NYSE: WFC) announced the termination of the Office of the Comptroller of the Currency's (OCC) 2021 consent order regarding loss mitigation practices in its Home Lending business. This marks the eleventh consent order closure by Wells Fargo's regulators since 2019.
CEO Charlie Scharf highlighted that the three-and-a-half-year resolution timeframe represents a significant improvement compared to historical orders, such as two Federal Reserve orders from 2011 that were terminated earlier this year. The company has closed five consent orders since the beginning of 2025 and expressed confidence in completing the work required for remaining consent orders.
Wells Fargo (NYSE: WFC) ha annunciato la cessazione dell'ordine di consenso del 2021 dell'Ufficio del Comptroller of the Currency (OCC) riguardante le pratiche di mitigazione delle perdite nella sua attività di prestiti per la casa. Questo segna la chiusura dell'undicesimo ordine di consenso da parte dei regolatori di Wells Fargo dal 2019.
Il CEO Charlie Scharf ha sottolineato che il periodo di risoluzione di tre anni e mezzo rappresenta un miglioramento significativo rispetto agli ordini storici, come i due ordini della Federal Reserve del 2011 che sono stati chiusi all'inizio di quest'anno. L'azienda ha chiuso cinque ordini di consenso dall'inizio del 2025 e ha espresso fiducia nel completare il lavoro necessario per gli ordini di consenso rimanenti.
Wells Fargo (NYSE: WFC) anunció la terminación del orden de consentimiento de 2021 de la Oficina del Contralor de la Moneda (OCC) relacionado con las prácticas de mitigación de pérdidas en su negocio de préstamos hipotecarios. Esto marca el cierre del undécimo orden de consentimiento por parte de los reguladores de Wells Fargo desde 2019.
El CEO Charlie Scharf destacó que el plazo de resolución de tres años y medio representa una mejora significativa en comparación con los órdenes históricos, como los dos órdenes de la Reserva Federal de 2011 que se terminaron a principios de este año. La compañía ha cerrado cinco órdenes de consentimiento desde principios de 2025 y expresó confianza en completar el trabajo requerido para los órdenes de consentimiento restantes.
웰스파고 (NYSE: WFC)는 자택 대출 사업의 손실 완화 관행과 관련하여 통화 감사관 사무소(OCC)의 2021년 동의 명령의 종료를 발표했습니다. 이는 2019년 이후 웰스파고의 규제 기관에 의해 열한 번째 동의 명령 종료를 의미합니다.
CEO 찰리 샤프는 3년 반의 해결 기간이 올해 초 종료된 2011년의 두 개의 연방준비제도 명령과 같은 역사적 명령에 비해 상당한 개선을 나타낸다고 강조했습니다. 회사는 2025년 초부터 다섯 개의 동의 명령을 종료했습니다며, 남은 동의 명령에 필요한 작업을 완료할 것이라는 자신감을 표현했습니다.
Wells Fargo (NYSE: WFC) a annoncé la cessation de l'ordre de consentement de 2021 du Bureau du Contrôleur de la Monnaie (OCC) concernant les pratiques de mitigation des pertes dans son activité de prêts immobiliers. Cela marque la fermeture du onzième ordre de consentement par les régulateurs de Wells Fargo depuis 2019.
Le PDG Charlie Scharf a souligné que le délai de résolution de trois ans et demi représente une amélioration significative par rapport aux ordres historiques, comme les deux ordres de la Réserve fédérale de 2011 qui ont été annulés plus tôt cette année. L'entreprise a fermé cinq ordres de consentement depuis le début de 2025 et a exprimé sa confiance dans l'achèvement du travail nécessaire pour les ordres de consentement restants.
Wells Fargo (NYSE: WFC) gab die Beendigung der Zustimmung des Office of the Comptroller of the Currency (OCC) aus dem Jahr 2021 bezüglich der Verlustminderungspraktiken in seinem Wohnungsbaugeschäft bekannt. Dies markiert die Schließung der elften Zustimmung durch die Aufsichtsbehörden von Wells Fargo seit 2019.
CEO Charlie Scharf hob hervor, dass der Zeitraum von dreieinhalb Jahren eine erhebliche Verbesserung im Vergleich zu historischen Anordnungen darstellt, wie beispielsweise zwei Anordnungen der Federal Reserve aus dem Jahr 2011, die Anfang dieses Jahres beendet wurden. Das Unternehmen hat fünf Zustimmungen seit Anfang 2025 geschlossen und äußerte Vertrauen in die Erledigung der erforderlichen Arbeiten für die verbleibenden Zustimmungen.
- Termination of 2021 OCC consent order demonstrates regulatory compliance improvement
- Faster resolution time (3.5 years) compared to historical consent orders
- Successfully closed 11 consent orders since 2019, with 5 in 2025 alone
- Progress in addressing regulatory issues shows operational improvements
- Company still has remaining consent orders to resolve
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 again validated our work and terminated this consent order in just three and a half years. This timeframe is much improved from other historical orders, including two 2011 Federal Reserve orders which were terminated earlier this year. This is our fifth closed consent order since the beginning of 2025. We remain confident that we will complete the work required in our remaining consent orders.”
About Wells Fargo
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News Release Category: WF-CF
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Media
Beth Richek, 980-308-1568
beth.richek@wellsfargo.com
Investor Relations
Joe Morford, 415-396-8454
joe.morford@wellsfargo.com
Source: Wells Fargo & Company
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