SAN FRANCISCO--(BUSINESS WIRE)--Mar 17, 2025--
Wells Fargo & Company (NYSE: WFC) today confirmed that the Office of the Comptroller of the Currency (OCC) terminated its 2021 consent order related to loss mitigation practices in the company’s Home Lending business. This is the eleventh consent order closed by Wells Fargo’s regulators since 2019.
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Charlie Scharf, Wells Fargo’s CEO, said of today’s news:
“We are pleased that the OCC has again validated our work and terminated this consent order in just three and a half years. This timeframe is much improved from other historical orders, including two 2011 Federal Reserve orders which were terminated earlier this year. This is our fifth closed consent order since the beginning of 2025. We remain confident that we will complete the work required in our remaining consent orders.”
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 34 on Fortune’s 2024 rankings of America’s largest corporations.
Cautionary Statement About Forward-Looking Statements
This news release contains forward-looking statements about our future financial performance and business. Because forward-looking statements are based on our current expectations and assumptions regarding the future, they are subject to inherent risks and uncertainties. Do not unduly rely on forward-looking statements as actual results could differ materially from expectations. Forward-looking statements speak only as of the date made, and we do not undertake to update them to reflect changes or events that occur after that date. For information about factors that could cause actual results to differ materially from our expectations, refer to our reports filed with the Securities and Exchange Commission, including the discussion under “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2024, as filed with the Securities and Exchange Commission and available on its website at www.sec.gov.
News Release Category: WF-CF
Facade of a Wells Fargo bank branch in Manhattan (Photo: Wells Fargo)
A series of storms that sparked tornadoes, wildfires, high winds and dust storms while barreling across eight states over the weekend have left at least 42 people dead and dozens injured.
Scattered tornadoes in Missouri killed over a dozen people, and a string of twisters in Mississippi — including two that hit near the same town within about an hour — left six people dead. Hundreds of homes and businesses were destroyed throughout the South and the Midwest.
The violent weather began Friday and earned an unusual “high risk” designation from meteorologists.
There were 46 tornadoes on Friday and 41 on Saturday, according to a preliminary count. The storm also spurred more than 130 wind-driven wildfires that damaged more than 400 homes in Oklahoma. Dozens of fires were still burning across the state on Monday, said Keith Merckx at Oklahoma Forestry Services.
Here's a look at how the storm impacted each state:
Missouri recorded more fatalities than any other state. Among those killed was a man whose home was ripped apart by a tornado as he slept. A woman in the home suffered serious injuries but was rescued by emergency responders who hiked through a field of debris to get to the residence.
The storms mainly hit late Friday and early Saturday in several of the state's southern counties.
A string of tornadoes across three counties in Mississippi killed six people and left more than 200 others homeless, Gov. Tate Reeves said.
The National Weather Service confirmed two of the twisters hit within about an hour of each other on Saturday in Walthall County, which is home to hard-hit Tylertown — where two adults and a child were killed and multiple people were injured.
Tornadoes killed three people in Alabama. A man who was sheltering inside his workshop in Plantersville, but his wife escaped injury. An 82-year-old woman was also killed, and residents described them both as well-loved members of the community.
The National Weather Services says at least nine tornadoes hit Arkansas. Three people were killed in Independence County in the northeast section of the state, while 29 people were injured across eight counties.
Two boys ages 11 and 13 were killed when a tree fell on their home in western North Carolina early Sunday, according to firefighters in Transylvania County. Firefighters found them amid the uprooted 3-foot-wide tree after relatives said they had been trapped in their bedroom, officials said.
Wind-driven wildfires across Oklahoma destroyed more than 400 homes, including more than 70 in and around Stillwater, home to Oklahoma State University. Four deaths were blamed on the fires or high winds, the Oklahoma Department of Emergency Management said.
Officials in Oklahoma and Texas are warning that parts of both states will again face an increased risk of fire danger this week.
High winds spurred several dust storms that led to almost a dozen deaths in car crashes on Friday.
Eight people died in a Kansas highway pileup involving at least 50 vehicles, according to the state highway patrol. Authorities said three people also were killed in car crashes during a dust storm in Amarillo in the Texas Panhandle.
Steve Romero, 23, center, hugs his wife, Hailey Hart, right, and their friend Jessica Soileau, left, after recalling how he, his fiancee and their three dogs rode out Saturday's tornado in their small 1994 Toyota in Tylertown, Miss., on Sunday, March 16, 2024. (AP Photo/Rogelio V. Solis)
