Office of the Comptroller of the Currency

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OCC terminates Wells Fargo’s mortgage servicing restrictions 

May 25, 2016By

The OCC announced on Wednesday that it lifted the mortgage serving requirements on Wells Fargo now that it is in compliance with the requirements of the Independent Foreclosure Review. Wells Fargo is the most recent bank in a group of six to have its requirements lifted. But Wells Fargo didn’t come out of this unscathed and must pay a $70 million civil money penalty for previous violations of the order.

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