By Rebecca Ungarino

Wells Fargo shares ticked higher on Thursday after the lender said a U.S. banking regulator has terminated a decade-old consent order against it, leaving only one outstanding.

Regulators at one point had more than a dozen consent orders open against the bank. The one that remains is the most important, both economically and in terms of the bank's reputation: the Federal Reserve's February 2018 order that required an unprecedented restriction on growth until Wells Fargo showed that it improved its governance and risk management.

Gerard Cassidy, an analyst with RBC Capital Markets, said in a note to clients that the development is positive because it "demonstrates progress of working with the company's regulators to satisfy outstanding issues and reinforce the company's risk and control framework."

Shares of Wells rose by as much as 0.9% following the bank's announcement, though they later pared some of those gains. The stock is up nearly 6% this year, while the S&P 500 has risen 0.6% .

This is a developing story. Please check back for updates.

Write to Rebecca Ungarino at rebecca.ungarino@barrons.com

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May 29, 2025 15:23 ET (19:23 GMT)

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