Weighing the Regulatory Risk at Wells Fargo

0
1
Weighing the Regulatory Risk at Wells Fargo

Wells Fargo was seen for years as the “good bank,” compared with other big U.S. banks. Its focus on strong, basic businesses such as providing mortgages, lending to companies, and helping people bank and buy cars, appealed to investors even if its numbers at times seemed murky. (See “How Wells Fargo Dresses Up Its Earnings,” July 30, 2016.)

The homey veneer was stripped away in September 2016, when the bank admitted that its employees had created millions of unauthorized accounts and credit card applications (eventually totaling…

Read More