https://finance.yahoo.com/news/exclusive-wells-fargo-asset-cap-113431477.html
7 replies (most recent on top)
You think after the government hit TD with a new asset cap for Financial Crimes failings that they're going to remove our asset cap after issuing a consent order for financial crimes deficiencies?
I'd find that hard to believe, but I'm open to being wrong.
- From the Gov't
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today entered into a Formal Agreement with Wells Fargo Bank, N.A.
The Formal Agreement identifies deficiencies relating to the bank’s financial crimes risk management practices and anti-money laundering internal controls in several areas including suspicious activity and currency transaction reporting, customer due diligence, and the bank’s customer identification and beneficial ownership programs.
The agreement requires the bank to take comprehensive corrective actions to enhance its Bank Secrecy Act/anti-money laundering and U.S. sanctions compliance programs.
https://www.occ.treas.gov/news-issuances/news-releases/2024/nr-occ-2024-99.html
David Owen’s said it pretty confidently that most of our regulatory issues will be behind us in the coming year. He said this during the Q4 global operations Townhall.
Stock splits are worthless. Just doubles the shares in Treasury Stock that inevitably land in exec’s pockets as bonuses.
Let's lift it so more scandals can happen and we can go back to all the fraud and make even more billions. God Bless.
there was a big deliverable to the regulators a couple of months ago. that deadline is public knowledge. then that's why all the spin and speculation... regulators have to evaluate what was submitted... if it is satisfactory, yes, AC would be lifted. but regulators do take their time, and it's unlikely they would just accept everything at face value so there will probably be more back and forth. the pundits are speculating that will all take less than a year... but a year is nothing in the regulators view and how they do their work, so we'll see...
Don't care. needs to be lifted, stock needs to soar and split.
Release the Kracken!
This seems like the same story regurgitated every couple of weeks.