Wells Fargo announced that the Office of the Comptroller of the Currency (OCC) has terminated its 2021 consent order related to the company’s Home Lending loss mitigation practices. This marks the eleventh consent order closed by Wells Fargo’s regulators since 2019 and the fifth closure since the beginning of 2025.

CEO Charlie Scharf highlighted the progress made, stating that the termination was achieved in just three and a half years, a significant improvement compared to previous regulatory orders. He also reaffirmed the company’s confidence in completing the remaining consent order requirements.

Wells Fargo, with approximately $1.9 trillion in assets, operates across four main segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. The company ranked No. 34 on Fortune’s 2024 list of America’s largest corporations.