The United States Currency Supervision Bureau revoked the directive against Wells Fargo Bank starting in 2015.
The Office of the Comptroller of the Currency (OCC) has lifted the consent order imposed on Wells Fargo Bank since 2015, leaving the bank with only one remaining regulatory restriction, which is the Federal Reserve's rule limiting the bank's assets to no more than $1.95 trillion starting in 2018. This marks the seventh time this year that U.S. financial regulators have lifted restrictions on Wells Fargo. Analysts point out that the OCC's lifting of the consent order reflects regulators' satisfaction with Wells Fargo's reforms, and the asset limit may soon be lifted. In addition, Wells Fargo has agreed to sell a batch of railroad asset financing portfolios worth $4.4 billion to a joint enterprise of GATX and Brookfield Infrastructure. Wells Fargo noted that the transaction will not have a significant impact on the bank's income statement or balance sheet.
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