The bank is the latest to report required pay discrepancies in their British units; the DOJ and SEC are looking into sales practices at the bank’s wealth management unit.
Readers opine on the prospect of regulatory relief, weigh in on the need for regulators to become more tech savvy, react to HSBC hopping back into U.S. mortgage lending and more.
With rate hikes aplenty expected this year, Wells Fargo and Bank of America are said to be subdividing key markets to target deposit pricing in the future and minimize costs. These are among several innovative steps large banks are taking to prepare for more competition for deposits.
The top examiner of Wells Fargo at the Office of the Comptroller of the Currency improperly revealed to the San Francisco bank the existence of a government investigation, according to the Treasury's inspector general.
Wells has helped gun and ammunition companies access $431 million in loans and bonds since the 2012 Sandy Hook shooting. Other financial firms that are active as bookrunners for gunmakers include Morgan Stanley, TD Securities, Bank of America and JPMorgan Chase.
Wells Fargo agreed to publicly report on the root causes that led to a rash of ethical lapses in recent years, a group of investors, led by the Interfaith Center on Corporate Responsibility, said.
