US OCC finds "deficiencies" in Wells Fargo's anti-money laundering controls
A top U.S. banking regulator has found "deficiencies" in Wells Fargo's anti-money laundering (AML) controls and financial crimes risk management practices, it said on Thursday in an enforcement action order it issued against the bank.
Wells Fargo stock slides after OCC issues enforcement action
Wells Fargo (NYSE:WFC) stock retreated 3.5% in Thursday midafternoon trading after the Office of the Comptroller of the Currency issued an enforcement action against the bank due to deficiencies tied to its financial crimes risk management practices and anti-money laundering internal controls.
OCC Orders Wells Fargo To Fix Lapses In Money Laundering Controls
U.S. regulator ordered Wells Fargo to tighten its controls on money laundering to prevent propagation of illicit transactions.
OCC hits Wells Fargo with AML enforcement action
The newest order for the bank introduces questions around whether it could affect the lifting of Wells' asset cap, or if other big banks might face AML orders.
OCC Identifies Deficiencies In Wells Fargo's Financial Crimes Controls
The Office of the Comptroller of the Currency said it entered into a Formal Agreement with Wells Fargo Bank, N.A. The Formal
US OCC issues enforcement action against Wells Fargo
The Office of the Comptroller of the Currency (OCC), a top banking regulator in the United States, said on Thursday it has issued an enforcement action against Wells Fargo due to deficiencies in its risk management practices.
Wells Fargo stock drops after US regulator issues enforcement action for money laundering
The Office of the Comptroller of the Currency, a top banking regulator in the United States, said Thursday it has issued an enforcement action against Wells Fargo due to deficiencies in its risk management practices.
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