The Federal Reserve just devised a harsh new punishment after Wells Fargo landed in scandal after scandal - one that may haunt every big bank. The San Francisco-based lender was banned late Friday from growing until it convinces authorities it's addressing shortcomings - an action that could cost it $400 million in profit this year and pushed shares down by the most in more than two years on Monday.
Comment on Fed's Wells Fargo punishment sets precedent for harsher era
By Laura J. Keller and Shahien Nasiripour, Bloomberg News, Houston Chronicle: Business
Mon, 02/05/2018 - 7:36pm
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