1. Elizabeth Warren Pushes for Fed Vote on Wells Fargo Reform Plan

    Elizabeth Warren Pushes for Fed Vote on Wells Fargo Reform Plan

    In February, the Fed board voted unanimously to order Wells Fargo to limit its growth and improve its corporate governance in response to the bank's unauthorized accounts scandal and other problems. “Given the breadth of the wrongdoing at Wells Fargo and the enormous number of consumers ...

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    1. Given the breadth of the wrongdoing at Wells Fargo and the enormous number of consumers affected, the Fed's governors — not its staff — should be responsible for determining whether Wells Fargo is complying with the consent order.
    2. The Fed's consent order sent a powerful message to Wells Fargo and other big banks that there could be real consequences … if they break the law.
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