Trump shuts Consumer Financial Protection Bureau headquarters, halts agency’s activity
President Donald Trump’s administration has shuttered the headquarters of the Consumer Financial Protection Bureau (CFPB) and ordered the watchdog agency to stop nearly all of its work. On Saturday, CFPB chief Russell Vought sent the directive to the agency’s staff,
In 2022, the CFPB had ordered the bank to pay $3.7 billion for ‘widespread’ problems with its auto loans, mortgages and deposit accounts.
The top U.S. consumer watchdog has terminated a 2022 order punishing Wells Fargo for allegedly mishandling auto loans and ...
Analysts say the termination of a 2022 consent order with the CFPB is a sign that the bank's days under an asset cap may be ...
Just last week, a 2022 Consumer Financial Protection Bureau consent order was terminated. In that case, Wells Fargo was ordered to pay nearly $4 billion for “widespread mismanagement” of ...
The Trump administration's rapid dismantling of the U.S. consumer protection watchdog will have broad implications for ...
U.S. bank Wells Fargo & Co. (WFC) has cleared an important regulatory hurdle in its efforts to have the $1.95 trillion asset ...
Both orders were issued in 2011 and address mortgage business issues. Wells has resolved nine consent orders since 2019, and ...
Wells Fargo has seen numerous regulators move to lift enforcement actions in recent months. Last month, the Consumer ...
The Federal Reserve Board lifted two enforcement actions against the megabank dating back to 2011. But the Fed's seven-year-old asset cap remains in effect.
Wells Fargo Inc. (NYSE: WFC) shares are trading higher Tuesday after the Federal Reserve Board terminated two longstanding ...
The bank’s stock rises as it fulfills two disciplinary orders from the Federal Reserve related to its mortgage business — but ...
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