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.

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.

Sentiment surrounding AMD (NASDAQ:AMD) heading into the company's first-quarter earnings results suggest a "below consensus" guide for the second-quarter is already discounted, Wells Fargo said. Shares rose 1.

Derivative Path and Wells Fargo have partnered to improve global payments for community and regional banks, supporting Derivative Path’s broader strategy

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

In 2022, the CFPB had ordered the bank to pay $3.7 billion for ‘widespread’ problems with its auto loans, mortgages and deposit accounts.

Monday’s tech rout gives investors yet another reason to buy bank shares, according to Wells Fargo analyst Mike Mayo.

Wells Fargo’s stock (NYSE: WFC) posted a better-than-expected set of Q4 2024 results with its stock rising by about 5% in Wednesday’s trading.

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.

Wells Fargo's quarterly earnings call included discussion of what the eventual lifting of the Fed-imposed asset cap would mean for the bank's growth strategy.

Analyst Betsy Graseck from Morgan Stanley maintained a Buy rating on Wells Fargo (WFC – Research Report) and keeping the price target at