Wells Fargo’s automobile- and mortgage-lending practices have now satisfied the requirements of a 2022 consent order set by federal regulators, the bank said.

The Consumer Financial Protection Bureau closed a consent order, but notes that it continues to monitor Wells Fargo closely.

Wells Fargo & Co. said Tuesday the Consumer Financial Protection Bureau has terminated its 2022 consent order related to automobile lending, consumer deposit accounts, and mortgage lending products and services.

The top U.S. consumer watchdog has terminated a 2022 order punishing Wells Fargo for allegedly mishandling auto loans and mortgages, the bank said on Tuesday, bringing it a step closer to having the $1.

The order, the seventh terminated since 2019 for the bank, related to Wells’ auto lending, mortgage and consumer deposit account services.

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 numbered. But the consumer bureau, still led by Director Rohit Chopra, says Wells is still being scrutinized as a repeat offender.

Wells Fargo still operates under a growth cap that the Federal Reserve put on the bank in 2018 as a punishment for its behavior. That asset cap stands at $1.95 trillion.

Wells Fargo said that its 2022 consent order with the Consumer Financial Protection Bureau relating to auto lending, consumer deposit accounts, and mortgage lending, has closed.

Wells Fargo CEO Charlie Scharf validates some of the optimism, telling analysts he feels "really great about our progress." But he said executives "don't want to get ahead of ourselves."

Wells Fargo's profit beat expectations in the fourth quarter, powered by a rebound in dealmaking activity and forecast it would earn more from interest payments this year, sending shares up 6%.

Wells Fargo’s Q4 results were positive, but regulatory issues linger. Find out why WFC stock is fairly valued despite potential growth from regulatory reform.

Despite a strong economy, the share of Americans making only the minimum credit card payment hit a 12-year high and delinquenices are rising.