Wells Fargo & Company said on Tuesday the Office of the Comptroller of the Currency (OCC) had terminated a 2015 consent order related to an anti-money laundering compliance program after the bank took steps to remedy the problems.
The end of the consent order is a positive sign for the bank, which has been trying to repair its frayed relationship with regulators, particularly the OCC, which has taken a tough line on the fourth-largest lender in the United States.
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This is just 1 of 10. We still have the asset cap.
Where are all the haters ? Lol
Great news !
I am in risk and we have these really intense meetings with hard project goals. I am just happy to see the fruits of the work.
I think we should have the consent order lifted any day now. We really have a insane number of Risk and Compliance headcount. We've gotten every last old Exec that worked here. If we're not doing it for the regulators then what bank is?
I'm just here to watch people be outraged about good news.
Right on, great news!!! This place has really turned around. I guess being under a roaster for years versus other banking competitors gives you a tight ship.
Most gone already (contractors)
So, that department is now eligible for layoffs?
Post ID: @tno+18MJPHpc
Thank you for working on that!
Not just training, but cute try at humor. In our area we had to rewrite 12 apps to apply various AML controls. That took most of this year to complete.
6 years to implement training??
Good news! Only 10 more to go!