Wells Fargo stock drops after US regulator issues enforcement action for money laundering
The Office of the Comptroller of the Currency, a top banking regulator in the United States, said Thursday it has issued an enforcement action against Wells Fargo due to deficiencies in its risk management practices.
Wells Fargo's Anti-Money Laundering Compliance: Analysts See Minimal Impact on Growth Despite Regulatory Hurdles
Wells Fargo & Company (NYSE:WFC) shares are trading higher on Friday. On Thursday, the U.S. Office of the Comptroller of the Currency (OCC) entered into a formal agreement with the company as related to its anti-money laundering (AML) and sanctions risk management practices.
US OCC finds "deficiencies" in Wells Fargo's anti-money laundering controls
A top U.S. banking regulator has found "deficiencies" in Wells Fargo's anti-money laundering (AML) controls and financial crimes risk management practices, it said on Thursday in an enforcement action order it issued against the bank.
OCC Orders Wells Fargo To Fix Lapses In Money Laundering Controls
U.S. regulator ordered Wells Fargo to tighten its controls on money laundering to prevent propagation of illicit transactions.
Wells Fargo’s stock falls on fresh enforcement action by federal regulators
The OCC has flagged the bank’s financial-crimes risk-management practices and anti-money-laundering internal controls.
US regulator orders Wells Fargo to overhaul its efforts to combat illicit funds
The Office of the Comptroller of the Currency (OCC), a top banking regulator in the United States, said on Thursday it has issued an enforcement action against Wells Fargo due to deficiencies in its risk management practices.
Wells Fargo Drops as US Seeks Fixes to Money-Laundering Controls
Shares of Wells Fargo & Co. fell after the bank reached a deal with the Office of the Comptroller of the Currency requiring the lender to beef up systems for detecting money laundering and complying with international sanctions.
Wells Fargo's latest regulatory rebuke may prolong asset cap punishment, analysts say
Wells Fargo's latest regulatory rebuke for insufficient efforts to combat money laundering will probably prolong another ...
Wells Fargo Commits to Regulator Agreement to Fix Financial-Crime Controls
The Office of the Comptroller of the Currency said it has identified deficiencies with Wells Fargo’s anti-money-laundering ...
Newly freed from federal restrictions, Wells Fargo agrees to shore up crime risk detection
Wells Fargo has agreed to work with U.S. bank regulators to shore up its financial crimes risk management, including internal ...
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Bank investors' worry after Wells Fargo AML action: Who's next?
A new OCC action over the megabank's anti-money-laundering guardrails, which follows news of seemingly more severe lapses at ...