News & Analysis as of

Wells Fargo Consent Order

Kaufman & Canoles

Credit Union Client Alert – Wells Fargo Must Pay $250 Million Fine

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The Office of the Comptroller of the Currency (OCC) issued a $250 million civil penalty against Wells Fargo Bank, NA for flaws in the bank’s home loan loss mitigation program. In addition, the OCC issued a cease-and-desist...more

Troutman Pepper

Wells Fargo Consent Orders Highlight Importance of Acting on Information From Third-Party Vendors

Troutman Pepper on

The OCC and CFPB consent orders issued against Wells Fargo on April 20 cited deficiencies in third-party oversight practices. The orders are the latest additions to an ever-expanding body of agency enforcement actions...more

A&O Shearman

US Board of Governors of the Federal Reserve System Issues Cease-and-Desist Order Against Large US Financial Institution

A&O Shearman on

The US Board of Governors of the Federal Reserve System issued a cease-and-desist order against a large US financial institution. The order requires the institution to utilize its resources to ensure compliance with consent...more

The Volkov Law Group

Federal Reserve Hits Wells Fargo with Unprecedented Enforcement Action (Part I of II)

The Volkov Law Group on

In an extraordinary action, with significant ramifications for the financial industry, the Federal Reserve recently announced a series of enforcement actions against Wells Fargo....more

Goodwin

CFPB Imposes Record Fine on National Bank

Goodwin on

On Thursday, September 8, 2016, the Consumer Financial Protection Bureau (“CFPB”), in connection with the Office of the Comptroller of the Currency (“OCC”) and the City of Los Angeles, announced that the government was...more

A&O Shearman

US Consumer Financial Protection Bureau Fines Wells Fargo for Illegal Sales Practices

A&O Shearman on

The US Consumer Financial Protection Bureau issued an enforcement action against Wells Fargo Bank, N.A. for widespread sales practices violations, including opening unauthorized deposit and credit card accounts on behalf of...more

Morrison & Foerster LLP

CFPB Levies Largest Civil Money Penalty in Agency History, Alleges “Abusive” Conduct

On September 8, 2016, the Consumer Financial Protection Bureau (CFPB or “Bureau”), the Office of the Comptroller of the Currency (OCC), and the City and County of Los Angeles entered into a Consent Order with Wells Fargo...more

Stinson - Corporate & Securities Law Blog

CFPB Month in Review for August 2016

In case you missed it, here is what the Consumer Financial Protection Bureau (CFPB) was up to over the last month: Enforcement Actions and Litigation - Enforcement Action Against First National Bank of Omaha - ...more

Beveridge & Diamond PC

MassDEP Agrees to Settlements with Financial Institutions to Resolve Alleged Violations of Massachusetts Environmental Laws at...

Beveridge & Diamond PC on

The Massachusetts Department of Environmental Protection (“MassDEP”) recently entered into consent orders with two financial institutions to resolve alleged Massachusetts environmental law violations occurring at two bank...more

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