(Bloomberg) -- The Federal Reserve just devised a harsh new punishment after Wells Fargo & Co. landed in scandal after scandal -- one that may haunt every big bank. The San Francisco-based lender had its rating cut by three analysts and fell by the most in more than two years on Monday after the Fed banned the bank from growing until it convinces authorities it’s addressing shortcomings.
Comment on Wells Fargo dives nearly 9 percent after new stiff Fed punishment
Laura J. Keller and Shahien Nasiripour, , San Francisco Chronicle: Business
Mon, 02/05/2018 - 3:30pm
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