The Federal Reserve cracks down on Wells Fargo over scandal involving sham accounts - The Washington Post
'Wells Fargo will not be allowed to grow its $1.95 trillion in assets until the Fed approves its remediation plan. '
'For instance, Wells Fargo said last year that employees had created far more sham accounts — 3.5 million rather than 2 million — over a much larger period than it initially reported. '
'For years, Wells Fargo dazzled Wall Street with strong growth and large profits. '
'Wells Fargo must replace three of its 16 board members by April and another before the end of the year, under its agreement with the Federal Reserve. '
'By pushing out Board Members at Wells Fargo, Chair Yellen sent a strong message.”The Fed governors voted 3-to-0 to approve the consent order. '
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derram ago
https://unvis.it/https://www.washingtonpost.com/news/business/wp/2018/02/02/federal-reserve-orders-wells-fargo-to-halt-growth-oust-four-board-members-after/ :
'Wells Fargo will not be allowed to grow its $1.95 trillion in assets until the Fed approves its remediation plan. '
'For instance, Wells Fargo said last year that employees had created far more sham accounts — 3.5 million rather than 2 million — over a much larger period than it initially reported. '
'For years, Wells Fargo dazzled Wall Street with strong growth and large profits. '
'Wells Fargo must replace three of its 16 board members by April and another before the end of the year, under its agreement with the Federal Reserve. '
'By pushing out Board Members at Wells Fargo, Chair Yellen sent a strong message.”The Fed governors voted 3-to-0 to approve the consent order. '
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