SAN FRANCISCO– Wells Fargo & Co., which at one point it was under so much scrutiny for various scandals the Fed placed a rare cap on how much the bank could grow, said the CFPB’s 2018 consent order related to the company’s compliance risk management program has terminated. 

This is the twelfth consent order closed by the $1.9-trillion Wells Fargo’s various regulators since 2019 and the sixth since the beginning of the year, the bank said. 

‘Different & Stronger’

“Today’s termination, along with the recent closure of other consent orders, demonstrates that we have completed much of our common risk and control infrastructure work, including work that is required by other orders,” CEO Charlie Scharf said. “I am proud of the work done by our teams and remain confident that we will complete the work needed to close our other open consent orders. Wells Fargo is a different and stronger company today as we focus on creating long-term value for our customers, clients, communities and shareholders.”