Enforcement actions

If the Fed order is lifted quickly — a big if — then the impact on Wells should be minimal. But if it lingers past 2018, then the bank could find itself on the losing end of the battle for customers and top talent.

The Federal Reserve on Friday slapped Wells Fargo with one of the harshest orders it has ever handed down, but the message it sent went far beyond a single institution.

Consumer advocates see acting CFPB Director Mick Mulvaney's restructuring as an attempt to reduce oversight and penalties for firms that discriminate against borrowers.

The Consumer Financial Protection Bureau is seeking comment on how it sues companies via an internal process rather than the traditional court system.

The Consumer Financial Protection Bureau published a request for information Wednesday seeking comment on the bureau's process for investigating companies that face possible enforcement actions.

Many in the industry applauded the Consumer Financial Protection Bureau's new mission statement shifting the agency's focus away from using enforcement actions as a substitute for rules of the road.

The agency is winning praise for changes in how loans are evaluated for defects, which could cut down on the risk of enforcement actions.

If anyone has doubted that acting Consumer Financial Protection Bureau Director Mick Mulvaney intends to overhaul the agency, the last three days alone have put those doubts to rest.

The payments resolve a number of cases that date back to 2011 and were among the largest coordinated U.S. enforcement efforts in the years following the crisis.

The Iowa company was sidelined by a Fed order for 2,155 days. Finally free, Ambank is open to making an acquisition and offering its mortgage origination services to other institutions.