Wells Fargo CEO expresses more confidence in regulatory fixes

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Wells Fargo CEO expresses more confidence in regulatory fixes

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Wells Fargo CEO expresses more confidence in regulatory fixes

//business-finance.news-articles.net/content/202 .. presses-more-confidence-in-regulatory-fixes.html

Published in Business and Finance on Wednesday, December 11th 2024 at 22:40 GMT by Reuters

🞛 This publication is a summary or evaluation of another publication
🞛 This publication contains editorial commentary or bias from the source
🞛 This publication contains potentially derogatory content such as foul language or violent themes

Wells Fargo CEO Charles Scharf expressed increased confidence in resolving the bank's regulatory issues during a speech at a conference in New York on December 11, 2024. He highlighted that the bank has made significant progress in addressing the consent orders from regulators, which were imposed due to various scandals including the creation of fake accounts. Scharf noted that while there is still work to be done, the bank is on track to meet its regulatory commitments, with improvements in risk management, compliance, and customer remediation efforts. He also mentioned that the bank's financial performance has been strong, with third-quarter earnings surpassing expectations, and he anticipates a potential lifting of the asset cap that has restricted Wells Fargo's growth since 2018.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/wells-fargo-ceo-expresses-more-confidence-regulatory-fixes-2024-12-11/ ]