SAN FRANCISCO (dpa-AFX) - The Federal Reserve Board announced the termination of two enforcement actions with Wells Fargo that were initiated in 2011. The first action addressed deficient practices in residential mortgage loan servicing and foreclosure processing, while the second targeted deficient mortgage lending practices at a former subsidiary.
However, the Federal Reserve Board noted that the termination does not impact its 2018 enforcement action, which remains in effect. This 2018 action was implemented to address widespread compliance issues by restricting Wells Fargo's growth.
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