UPDATE 5-Wells Fargo CEO tells Congress bank has doubled down on regulatory issues [Reuters]
Wells Fargo & Company (WFC)
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Source: Reuters
Wells Fargo CEO tells Congress bank has doubled down on regulatory issues (Reuters) - New Wells Fargo & Co ( WFC.N ) Chief Executive Charlie Scharf testified on Tuesday that substantial change was underway at the bank as lawmakers grilled him on the status of its remediation efforts and contingency plans related to coronavirus. “We are putting a substantially different group of people in charge of these issues,” he told members of the House Financial Services Committee. Since taking over the scandal-plagued bank late last year, Scharf has shaken up its leadership and overhauled the bank’s business lines, winning over some regulators in the process. Last week the Office of the Comptroller of the Currency, the bank’s top regulator, said it was encouraged by the new leadership. Many lawmakers were cautiously optimistic that Scharf was the right person for the job but said righting the bank would be a tall task. “While I wish you luck, it is clear to this Committee that the bank you inh
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- 10/11/24 - Beat
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- 12/20/24 - Form 424B2
- 12/20/24 - Form 424B2
- 12/20/24 - Form 424B2
- WFC's page on the SEC website