The U.S. Consumer Financial Protection Bureau (CFPB) has told Congress that &quo...
WASHINGTON/NEW YORK - The U.S. Consumer Financial Protection Bureau has told Congress that “all options are on the table” for enforcing a 2018 consent order against Wells Fargo, raising the prospect of potential future penalties or other sanctions against the bank.
“I am not satisfied with the bank’s progress to date and have instructed staff to take all appropriate actions to ensure the bank complies with the consent order and Federal consumer financial law,” she wrote in the letter dated April 5. “The OCC is fully engaged and prepared to ensure Wells Fargo corrects the identified deficiencies,” Otting wrote in a separate April 3 letter to Warren.
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