Wells Fargo Confirms Termination of 2016 OCC Sales Practices Consent Order

SAN FRANCISCO--(BUSINESS WIRE)--Wells Fargo today confirmed that the Office of the Comptroller of the Currency (OCC) terminated a consent order it issued in 2016 regarding sales practices misconduct. The consent order required Wells Fargo to revamp how it offers and sells products and services to consumers and take additional actions to protect its customers and employees. Charlie Scharf, Wells Fargo’s CEO, who joined the company in 2019, said of today’s news: “I have repeatedly said that implementing a ...