Follow TopicFollow Contributor Share Feedback
US Government and Regulators Take Aim at Wells Fargo (Again)

US Government and Regulators Take Aim at Wells Fargo (Again)

by Starling Insights

Starling Insights Editorial Board

Sep 17, 2021

Observations

U.S. Senator Elizabeth Warren has urged the Federal Reserve to force Wells Fargo to separate its traditional banking and Wall Street businesses after the lender was handed yet another regulatory action and a $250 million fine this month from the Office of the Comptroller of the Currency (OCC).

“Wells Fargo has not met the requirements of the OCC’s 2018 action against the bank. This is unacceptable,” Acting Comptroller of the Currency Michael J. Hsu commented. “In addition to the $250 million civil money penalty that we are assessing against Wells Fargo, today’s action puts limits on the bank’s future activities until existing problems in mortgage servicing are adequately addressed."

This content is available to paid Members of Starling Insights.

If you are a Member of Starling Insights, you can sign in below to access this item. 

 

If you are not a member, please consider joining Starling Insights to support our work and get access to our entire platform.  Enjoy hundreds of articles and related content from past editions of the Compendium, special video and print reports, as well as Starling's observations and comments on current issues in culture & conduct risk management.

Join The Discussion

See something that doesn't look quite right?

We strive to provide high quality and accurate content at all times. With that said, we realize that sometimes links break, new information becomes available, or there is something that you feel we may have missed.

If you see something that you think we should be aware of, we would love to hear from you. Feel free to drop us a note below and leave your name and contact info if you'd like to hear back from us.

Thank you for being a key part of the Starling Insights community!