They are hiding Compliance and other areas of Corporate Risk headcount numbers from regulators.
We remain unethical and shady.
12 replies (most recent on top)
Worthless fu-s.
I thought regulators like the CFPB and the OCC were gutted anyways. Why would big banks fear them now when they have free reign to do whatever they want? Are you really telling me the CFPB under the current admin is gonna call WF out?
This is an id--tic thread. Risk absolutely isn’t concealing headcount or their plans on headcount from regulators. I’ve been in those rooms, I’ve even prepared the materials.
I’m starting to think I’m wasting my time on these boards.
Some of the people here are short sellers looking to give the algo a boost.
@OP Hey a - hole author, you all certainly do “remain unethical and shady”! Have you any proof of the outrageous claims you made here? Post and Prove here once and for all what you have. CLOWNS
@ah No they arent. Reg exams have a specific focus, so the decks have to be focused. You dont see the questions, the 1st day letter, or go to the meetings. You dont know what your talking about. But you are certainly free to report it rather than spread fake news.
please report, you can do that anonymously.
such as OCC
Axe the strategy team to start
I know for a fact they are omitting certain staffing info from decks that go to regulators.
People who have never been through an exam posting things they dont know anything about.
I have been in the room. You have no idea what you are talking about.
No they arent lol. Literally every exam the first thing we do is send an org chart. They know exactly how many people, how reliant we are in India (and they ask...)
What people need to understand...regulators are taking the foot off the brakes.
There is too much unregulated private credit out there and regulators want to move it back onto bank balance sheets.
Than means streamlining compliance costs. Half the sh-t Risk does adds zero value. Its pure bureaucratic inertia.
Who really needs to go: the managing directors who create powerpoints for the sake of powerpoints and CYA.
This is a for profit bank... we need to be back in the business of nimble, calculated risks.