Wells Fargo Nears End of Scandal Era With Just Fed Cap Left

Wells Fargo & Co. resolved another regulatory punishment after a top US regulator terminated a 2015 order against the bank, leaving it with one major hurdle to clear before it can put a series of scandals behind it.

The Office of the Comptroller of the Currency ended the agreements which related to Wells Fargo’s previously held financial subsidiaries, the bank said in a statement Thursday. It was the 13th consent order closed by banking regulators since 2019, Wells Fargo said.