Wells Fargo stock slides
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.
US regulator orders Wells Fargo to overhaul its efforts to combat illicit funds
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 Issues Statement on Agreement with OCC
Wells Fargo & Company (NYSE: WFC) today issued the following statement regarding a formal agreement between Wells Fargo Bank, N.A. and the Office of the Comptroller of the Currency (OCC) related to the bank’s anti-money laundering (AML) and sanctions risk management practices.
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.
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.
Wells Fargo faces OCC enforcement, but Jim Cramer sees opportunity in stock
Shares of Wells Fargo & Co (NYSE: WFC) dipped following news of an enforcement action by the Office of the Comptroller of the Currency (OCC), citing the bank’s insufficient anti-money laundering efforts.
Wells Fargo Stock Drops on New Enforcement Action
The OCC said it found shortcomings in in the internal mechanisms meant to help the bank combat financial crimes.
Wells Fargo's New Enforcement Action Pushes Back The Asset Cap Lifting Timeline (Rating Downgrade)
Wells Fargo's ongoing regulatory issues, including a recent OCC enforcement action, delay the likelihood of the Federal ...
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 ...
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 ...
Compliance Week6d
Wells Fargo agrees with OCC to shore up BSA/AML, sanctions program deficiencies
The Treasury Department's Office of the Comptroller of the Currency ordered Wells Fargo to make "comprehensive corrective ...
Wells Fargo's latest regulatory rebuke may prolong asset cap punishment, analysts say
Wells Fargo's latest regulatory rebuke for insufficient efforts to combat money laundering will probably prolong another ...
American Banker6d
Wells Fargo gets hit with new AML enforcement action
The enforcement action by the Office of the Comptroller of the Currency is a major setback for the San Francisco bank, which ...
Wells Fargo in trouble with regulators again
Wells Fargo & Co. finds itself once again in the regulatory crosshairs, with the Office of the Comptroller of the Currency ...
Wells Fargo Commits to Regulator Agreement to Fix Financial-Crime Controls
The Office of the Comptroller of the Currency said it has identified deficiencies with Wells Fargo’s anti-money-laundering ...