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Wells Fargo: Fed order could cut $400M from bank's profit this year

Order shaking up the bank's board and limiting growth follows fake accounts scandal, other problems        
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A top Federal Reserve official on Tuesday cited the Wells Fargo & Co., fake accounts scandal as an example of how pay incentives can go wrong and urged banks to align them with proper behavior to improve the industry’s culture. “The...

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Sen. Elizabeth Warren is calling on the Federal Reserve to remove Wells Fargo & Co. board members who presided over the bank when it opened millions of consumer accounts without customers’ authorization. The scandal, which erupted l...

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On the surface, the Federal Reserve seemed really to lay the hammer on Wells Fargo & Co. for its accounts scandal and serial wrongdoing. In a sentence handed down Feb. 2, the Fed placed a cap on the bank’s future asset growth; the b...

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