Published 7 days ago

Fed ends two regulatory punishments imposed on Wells Fargo in 2011

Summary by WTVB

By Pete Schroeder, Nupur Anand WASHINGTON (Reuters) -The Federal Reserve announced on Tuesday it had terminated a pair of enforcement actions imposed on Wells Fargo in 2011, but said the bank’s asset cap remained in place. The enforcement actions were related to deficient practices in mortgage servicing and foreclosures by the bank, and mortgage lending at a former subsidiary. The Fed said the asset cap it imposed is not affected by the move. We…

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