Wells FargoWhen it comes to regulation, isn’t quite out of the woods yet.

This is the message that the bank delivered in its latest communication. filingWith the Securities and Exchange Commission, this week. Wells Fargo said it is “likely to experience issues or delays” in satisfying demands from multiple U.S. regulators – a subtle, but meaningful shift in language from earlier filings where the bank said it “may” experience delays.

The development means that the most significant regulatory constraint on Wells Fargo — a Federal Reserve edict forcing the bank to keep its balance sheet frozen at 2017 levels — could take even longer to resolve, JPMorganIn a Wednesday research note, Vivek Junija, analyst said that.

“The key risk is that any further issues or delays would increase scrutiny and could further delay the asset cap getting lifted,” Juneja said in the note, citing comments from Fed chairman Jerome Powell that the asset cap won’t be lifted until compliance issues are resolved. The analyst stated that costs related to the regulatory overhaul may remain higher for a longer time.

This disclosure shows that Charles Scharf (CEO) is still occupied with cleaning up the chaos created by 2016’s fake accounts scandal at the bank. The September attack by the Office of the Comptroller of the Currency on the bank resulted in a $250 million fineIts mortgage division is closely tied.

Scharf said last month to analysts that the latest penalty indicates that even though the consent order cases were resolved, there are likely to be “setbacks” in the future as Scharf’s deputies and the CEO work together to enhance compliance.

Scharf referred to the extensive set of consent orders being worked on by the bank when Scharf was asked about the setbacks.

Scharf explained, “I only want to ensure that people understand the existence of these things and that they don’t expect you to be surprised by what happens.”

Wells Fargo spokeswoman declined to comment beyond what was stated in the filing. In the face of an overall rebound in financial services, shares of Wells Fargo have increased by more than 70%.

CNBC’s Michael Bloom provides assistance