FYI: Wells Fargo & Co. says it’s a different bank today than it was two years ago -- but maybe not different enough for regulators.
Chief Executive Officer Tim Sloan told investors at a conference Tuesday that the bank is “exceeding the expectations of our regulators.” A new revelation about the company’s regulatory issues is challenging that statement. Over the summer, the Federal Reserve rejected parts of Wells Fargo’s plan to turn itself around and prevent further missteps, a person with knowledge of the decision said, following a Reuters report Thursday.
Regards,
Ted
https://www.fa-mag.com/news/wells-fargo-says-it-s-cleaning-up-its-act--regulators-want-more-42239.html?print
