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12.06 - 22:31
US Banking Senate tells Wells Fargo to fix risk, governance issues
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fnlondon.comWells Fargo must fix its governance and risk-management issues, the chairman of the US Senate Banking Committee said, highlighting what he called a “laundry list” of consumer abuses and compliance breakdowns.
The bank has been plagued by weaknesses in its governance and risk-management practices for nearly a decade, Sherrod Brown said in an open letter sent on 31 May to Wells Fargo chief executive Charles Scharf.
“It...
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