U.S. probes Wells Fargo's retention of employee communications

Feb 21 (Reuters) - U.S. regulators are investigating Wells Fargo & Co's (WFC.N) retention of employee communications over "unapproved" messaging tools, the bank said on Tuesday, the latest in a crackdown that has already sparked billions of dollars in fines.

The United States Securities and Exchange Commission and the United States Commodity Futures Trading Commission have undertaken the probes, the fourth-largest U.S. bank disclosed in a filing.

IT IS TIME THAT THESE REGULATORS LEFT WF ALONE - enough is enough!!! 😡

Source: https://www.reuters.com/business/finance/us-probes-wells-fargos-retention-employee-communications-2023-02-22/

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7 replies (most recent on top)

I like how the article implies that it's all because of remote work. Yeah, because people who work in an office never use cell phones for anything, either while on-site or at home. Nope, never.

Maybe the NYC clowns shouldn't have taken away all the company cells after all...

Leave Wells alone?? When regulators are still finding new problems every other week, why would they stop looking?

Predict a $200mm fine any day now…

There are no controls to prevent employees from doing this. Bad actors, and ignorant actors will always do this, and all you can do is remind them not to, and try to catch them talking about it via approved tools.

Follow the damn rules and Wells won't need to be investigated. You're working for an employer who is rotten and crooked to their core. Sorry.

If you've been following along at all, almost every single large financial institution is being investor this.

Leave them alone? They need to probed if they aren’t following the rules.

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U.S. probes Wells Fargo's retention of employee communications

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