Observations
Sep 30, 2022Wells Fargo CEO Charlie Scharf has said the bank was laser-focused on resolving regulatory issues that have emerged after a rash of culture and misconduct related crises. However, Scharf warned that “it will take several years of work” to satisfy US regulators.
Observations
Sep 19, 2022Observations
Feb 16, 2022Observations
Oct 07, 2021It used to be that regulatory fines were an unpleasant but ‘known’ cost of doing business. Just this past September, for instance, Wells Fargo was ordered by the US OCC to burn another $250 million worth of shareholder capital due to inadequate management of customer remuneration and risk governance improvements, stemming from problems in past years.
