Wells Fargo disclosed in a regulatory filing Tuesday it has entered resolution discussions with a U.S. authority or authorities regarding potential sanctions violations it voluntarily self-disclosed to the Treasury Department’s Office of Foreign Assets Control (OFAC).
The update was included in the bank’s first-quarter report filed with the Securities and Exchange Commission. Wells Fargo first reported disclosure of the potential violations to OFAC in its second-quarter report for 2017 and that it was cooperating with a related inquiry from the Department of Justice.
