Wells Fargo's co-CEO of corporate and investment banking (CIB), Jon Weiss, has informed the bank of his intention to retire and will step down from his position effective immediately, the company said on Thursday.

Jon Weiss, who led the unit with Fernando Rivas, will step down and Rivas will become the sole CEO of the lender’s corporate and investment bank, the company said.

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

U.S. bank Wells Fargo & Co. (WFC) has cleared an important regulatory hurdle in its efforts to have the $1.95 trillion asset cap imposed on

Wells Fargo said Jon Weiss is retiring as co-chief executive of corporate and investment banking, leaving former JPMorgan Chase executive Fernando Rivas as the sole chief of the bank's Wall Street businesses.

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.

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 Q4 results were positive, but regulatory issues linger. Find out why WFC stock is fairly valued despite potential growth from regulatory reform.

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

In a letter addressed to the CEO of Wells Fargo, employees asked for the union to be recognized voluntarily, adding that a petition had been filed with the National Labor

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