-
Janet Yellen's Last Act at the Federal Reserve: Punishing Wells Fargo
Fed chair Janet Yellen will officially leave her post Saturday, but she’s not going quietly. On Friday evening, on Yellen’s last business day at the Federal Reserve, the central bank slapped new sanctions on Wells Fargo to punish it for a recent string of misbehavior, including a fake accounts scandal. Upbraiding Wells Fargo (WFC, -2.30%) for its chronic bad behavior, the Fed imposed a consent order that prohibits the bank from growing its assets any larger indefinitely, a severe handicap in the competitive financial industry. The Fed’s “cease and desist” order also forces Wells Fargo to replace another ... (full story)
- Comments
- Subscribe
- Comment #1
- Quote
- Feb 3, 2018 2:12am Feb 3, 2018 2:12am
- Ojiego
- | Joined Jan 2015 | Status: Critical Source | 1018 Comments
- Comment #2
- Quote
- Feb 3, 2018 2:14pm Feb 3, 2018 2:14pm
- alexandru987
- | Joined Apr 2009 | Status: Member | 109 Comments
- Comment #3
- Quote
- Feb 3, 2018 2:35pm Feb 3, 2018 2:35pm
- Hareii
- Joined Jun 2011 | Status: Member | 840 Comments
- Comment #4
- Quote
- Feb 3, 2018 2:45pm Feb 3, 2018 2:45pm
- alexandru987
- | Joined Apr 2009 | Status: Member | 109 Comments
- Comment #5
- Quote
- Feb 3, 2018 7:49pm Feb 3, 2018 7:49pm
- EventHorizon
- | Joined Jul 2011 | Status: Member | 216 Comments