The Consumer Financial Protection Bureau closed a consent order, but notes that it continues to monitor Wells Fargo closely.

Wells Fargo said Tuesday that its 2022 consent order with the Consumer Financial Protection Bureau relating to auto lending, consumer deposit accounts and mortgage lending has closed.In 2022, the CFPB said it spotted violations across some of Wells Fargo’s consumer product lines,

In 2022, the CFPB had ordered the bank to pay $3.7 billion for ‘widespread’ problems with its auto loans, mortgages and deposit accounts.

Analysts say the termination of a 2022 consent order with the CFPB is a sign that the bank's days under an asset cap may be numbered. But the consumer bureau, still led by Director Rohit Chopra, says Wells is still being scrutinized as a repeat offender.

The order, the seventh terminated since 2019 for the bank, related to Wells’ auto lending, mortgage and consumer deposit account services.

Wells Fargo’s automobile- and mortgage-lending practices have now satisfied the requirements of a 2022 consent order set by federal regulators, the bank said.

The top U.S. consumer watchdog has terminated a 2022 order punishing Wells Fargo for allegedly mishandling auto loans and mortgages, the bank said on Tuesday, bringing it a step closer to having the $1.