Senator Urges Fed to Maintain Asset Cap on WFC Over Compliance Issues [Yahoo! Finance]
Wells Fargo & Company (WFC)
Last wells fargo & company earnings: 4/14 07:46 am
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Source: Yahoo! Finance
WFC until the bank solves its risk management and compliance issues. This was reported by Reuters on Nov. 20, 2024. In a letter to the Fed's chairman, Jerome Powell and regulatory chief, Michael Barr, Warren highlighted that the restriction, which was imposed in 2018, should not be lifted until WFC "can show that it can properly manage the risks associated with running a large bank." Warren also reminded Powell regarding his decision from 2018, where he had promised to submit any decision on the removal of the cap to the Board of Governors, where the governors will decide whether to approve or reject it. Warren highlighted that WFC has been slapped with a series of regulatory actions since 2018, including recent shortcomings, which were flagged by the Office of the Comptroller of the Currency regarding the bank's anti-money laundering controls. The Senator also pointed out the ongoing litigations against the bank, including a class-action lawsuit over its diversity hiring prac
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WFC
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WFC
Earnings
- 1/16/25 - Beat
WFC
Sec Filings
- 2/13/25 - Form 8-K
- 2/13/25 - Form 424B2
- 2/13/25 - Form 424B2
- WFC's page on the SEC website