The Federal Reserve Board terminated two enforcement actions against Wells Fargo issued in 2011 covering deficient residential mortgage loan servicing and foreclosure processing practices and deficient mortgage lending practices at a former subsidiary, while confirming that its separate 2018 enforcement action restricting the firm’s growth remains in effect.
Federal Reserve Board 2025-02-04
Federal Reserve Board terminates two 2011 Wells Fargo enforcement actions on mortgage servicing and lending deficiencies
The Federal Reserve Board has terminated two enforcement actions against Wells Fargo related to deficient mortgage servicing and lending practices from 2011. However, the 2018 enforcement action restricting the firm's growth remains in effect.