Newly freed from federal restrictions, Wells Fargo agrees to shore up crime risk detection
Wells Fargo has agreed to work with U.S. bank regulators to shore up its financial crimes risk management, including internal controls related to suspicious activity and money laundering.
US regulator orders Wells Fargo to overhaul its efforts to combat illicit funds
Wells Fargo shares slid on Thursday after a U.S. banking regulator found its safeguards against money laundering and other illegal transactions were too lax and restricted its ability to expand in risky businesses.
Wells Fargo in trouble with federal regulators yet again
The latest regulatory action did not come with a monetary fine, but it underscored that Wells Fargo has a lot more work to do to right the ship.
Federal regulator enforces risk restrictions on Wells Fargo
The Office of the Comptroller of the Currency said the agreement with Wells Fargo & Co. "identifies deficiencies relating to the bank’s financial crimes risk management practices and anti-money launde
Wells Fargo (NYSE:WFC) Takes Action on U.S Money Laundering Concerns
Wells Fargo ($WFC) announced that it has reached an agreement with the Office of the Comptroller of the Currency (OCC) to enhance its systems for
OCC Orders Wells Fargo To Fix Lapses In Money Laundering Controls
U.S. regulator ordered Wells Fargo to tighten its controls on money laundering to prevent propagation of illicit transactions.
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Wells Fargo employee found dead at her desk after four days unnoticed
Wells Fargo Bank is no stranger to discreditable behavior, and the latest scandal is out of an office in Arizona where an ...
Wells Fargo's latest regulatory rebuke may prolong asset cap punishment, analysts say
Wells Fargo's latest regulatory rebuke for insufficient efforts to combat money laundering will probably prolong another ...
Wells Fargo faces OCC enforcement, but Jim Cramer sees opportunity in stock
Shares of Wells Fargo & Co (NYSE: WFC) dipped following news of an enforcement action by the Office of the Comptroller of the ...
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Wells Fargo Must Fully Compensate Victims in Account-Scandal Settlement
Wells Fargo must guarantee full compensation and credit history repairs for an estimated 2.73 million victims of its sham accounts scandal before a judge will approve a proposed $142 million ...
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Activist Investor CtW Supports Scandal-Plagued Wells Fargo's Board
CtW Investment Fund managers say they will vote in favor of Wells Fargo's directors based on the board's assertion that the mega-bank has made ample changes since its sales scandal. CtW ...
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Alarm bells, arrogance and the crisis at Wells Fargo
As the bank’s chief security officer, Michael Bacon spent years raising concerns about rampant sales abuses. In exclusive interviews, he details how the bogus-accounts scandal unfolded — and argues ...
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Wells Fargo
Wells Fargo is led by chief executive officer Charlie Scharf, who took on the role in 2019, following the company’s wide-ranging sales practices scandal that first came about in 2016.
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Warren Targets KPMG, Accounting Law in Wake of Wells Fargo Scandal
The letter to KPMG, Wells Fargo's auditor, may be part of a broader effort by the Massachusetts senator to have a role in choosing accounting regulators in a Clinton administration. The letter to ...
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Wells Fargo's latest regulatory rebuke may prolong asset cap punishment, analysts say
Despite some progress fixing issues from a 2016 fake accounts scandal, the fresh compliance problems signal Wells Fargo's cleanup efforts may be far from over, and as such the period the bank ...