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Capitol Report: Elizabeth Warren says Fed should keep Wells Fargo restrictions in place until CEO Sloan is ousted [MarketWatch]

Wells Fargo (WFC)  More Company Research Source: MarketWatch
Last wells fargo earnings: 10/12 08:00 am Check Earnings Report
US:NYSE Investor Relations: wellsfargo.com/about/investor-relations
PDF Elizabeth Warren says Fed should keep Wells Fargo restrictions in place until CEO Sloan is ousted The Federal Reserve should keep restrictions on Wells Fargo in place until the bank gets rid of CEO Tim Sloan, Sen. Elizabeth Warren said on Thursday in a letter to the central bank. The unprecedented Fed restrictions, which mean the banking giant WFC, -2.33% cannot grow, came after a number of scandals, including opening millions of customer accounts without permission. The restrictions will be in place until the Fed signs off on plans to improve risk management and maintain effective corporate governance. The Fed’s board will have to vote to remove the restrictions. Warren, the Massachusetts Democrat who’s weighing a presidential run, said Sloan was involved in what she called the “fake-accounts scam” since he was in senior management positions since 2011, including CFO, head of wholesale banking and chief operating officer. “There are only two possibilities: either he was aware of t [Read more]

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