Sleep on this for a little… looks like C. Shafrt is still not being held accountable!!
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If we aren’t taking losses, we generally don’t care. I find so many AML and KYC violations. Falls on deaf ears without a spreadsheet proving our LOB is taking a hit.
When the biggest criminal is in charge it’s kind of hard. How is Chuckles going to spin this as he has been in charge for years and we are in worse shape
It is just a misunderstanding. We have oustanding management team that just completed a bang up job on RCSA.
No surprise since WF can’t keep its own internal … “activity” under control. Not in the US and….not in India..
@ofx+1pDYMfKt, because Carrie T never went to prison, I don't think our executives are deterred from committing crimes.
Customer crimes? LOL. Regulators asking WF to police customer crimes is like having fox guard the hen house. I think we need to worry more about our own executives and managers committing crimes. How do we catch criminals inside our own bank when they are so good at protecting each other?
Wells Fargo is struggling with its regulatory obligation to monitor financial crime, the latest challenge in the bank’s yearslong effort to recover from a series of scandals.
Regulators have issued the bank formal orders to be better at catching criminals who may be using its accounts or products, according to people with knowledge of the matter. At the same time, the bank is facing a lawsuit claiming it allowed an alleged $490 million Ponzi scheme to operate.
Charlie does not have the CEO skills to lead us anywhere let alone get out of trouble with the Feds. Wells Fargo is just a paycheck for him until be gets booted.