Wells Fargo Exits Scandal-Era Consent Order as Fed Verdict Looms

Wells Fargo & Co. said a consent order tied to its mistreatment of consumers was lifted by the Office of the Comptroller of the Currency, the latest step in its effort to free itself from restrictions imposed by regulators in an era of scandals.

The sanction — imposed by the OCC within months of the Federal Reserve’s decision to limit the bank’s growth — focused on Wells Fargo’s compliance risk management program. The OCC had identified deficiencies and violations that harmed customers of its auto-lending and mortgage units, the regulator said at that time.

“We are pleased that the ...