A Wells Fargo bank sign. Image courtesy of Mike Mozart / CC BY 2.0

The Office of the Comptroller of the Currency has terminated a 2015 consent order related to the Wells Fargo’s Bank Secrecy Act/Anti-Money Laundering compliance program, Wells Fargo & Company said in a statement.

“Building the right risk and control infrastructure and remediating our legacy issues remain our top priority, and the termination of this consent order is evidence of our progress,” CEO Charlie Scharf said in the statement. “While we are pleased with this action, we have a significant amount of work ahead of us and are continuing to commit the necessary resources to this effort.”

The consent order required the bank to implement customer due diligence standards that include collection of current beneficial ownership information for certain business customers. Wells Fargo said in the statement that it “undertook significant work to remedy the deficiencies that gave rise to the consent order and to enhance its BSA/AML compliance program.”