The agreement was likely the last of the big cases to be cleared by the Justice Department, and Wells paid less than its peers did to resolve the lingering mortgage probes stemming from the meltdown.
In a 2015 enforcement action, the San Francisco Fed said it had identified problems with the Pasadena, Calif., bank’s BSA and anti-money-laundering compliance programs.
Echoing the set of restrictive rules known as GDPR enacted earlier this year by the European Union, the state legislation — which does not take effect until 2020 — will almost certainly be the subject of intense lobbying from business giants that vacuum up all the data.