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.

U.S. bank Wells Fargo & Co. (WFC) has cleared an important regulatory hurdle in its efforts to have the $1.95 trillion asset cap imposed on

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

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.

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.

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

The American economy has entered 2025 with a strong head of steam,” Wells Fargo economists said. That's not necessarily a good thing for borrowers, who are waiting for the next Fed rate cut.

As interest rates rose, banks charged more for credit cards and loans, but held rates paid on savings accounts.

Wells Fargo exceeded Q4 earnings expectations, driven by strong investment banking performance. Read why I upgrade WFC stock from sell to hold.

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

The Federal Reserve is likely finished with rate cuts for the foreseeable future, according to a Bank of America Corp. (NYSE: BAC) expert who spoke at a local event.

The Federal Open Market Committee, the central bank's policymaking body, will conclude a two-day meeting on Wednesday afternoon. A policy decision is due at 2 p.m. ET, followed by a news conference by Fed Chair Jerome Powell at 2:30 p.m. ET.