Wells Fargo Exits OCC 2021 Home Loan Consent Order

Wells Fargo & Company has announced the termination of its 2021 consent order with the Office of the Comptroller of the Currency (OCC), which was related to loss mitigation practices in its Home Lending division. This marks the eleventh consent order closed since 2019 and the fifth in 2025, reflecting the bank's ongoing efforts to improve its regulatory compliance and operational practices. CEO Charlie Scharf emphasized the importance of this resolution, noting it demonstrates the company's progress in addressing past regulatory concerns. The termination is expected to enhance Wells Fargo’s operational flexibility and bolster investor confidence. The bank has been working to overcome a series of regulatory issues stemming from previous scandals, further solidifying its commitment to regulatory adherence. This development is seen as a positive step in rebuilding customer trust and improving the bank's reputation in the financial sector.