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Wells Fargo: Announces Termination of AML-Related Consent Order

January 10, 2021

Wells Fargo & Company a diversified, community-based financial services company with $1.92 trillion in assets
Its vision to satisfy customers’ financial needs and help them succeed financially
Wells Fargo provides banking, investment, and mortgage products and services, as well as consumer and commercial finance
Announced that the OCC terminated a 2015 consent order related to the company’s BSA/AML compliance program
The consent order required the bank to implement customer due diligence standards that include the collection of current beneficial ownership information
Wells Fargo undertook significant work to remedy the deficiencies that gave rise to the consent order