By Joe Mont2019-05-17T15:19:00
Back in January, Wells Fargo issued a comprehensive Business Standards Report, “Learning from the past, transforming the future.”
The document details the many changes the banking giant has made to address causes of past issues and provides updates on the company’s businesses, practices, and progress.
“Following Wells Fargo’s September 2016 regulatory settlements related to retail banking sales practices, we made our top priority the restoration of the trust we lost,” the report says. “We began with self-reflection—reviewing what happened so we could fully understand where things broke down, learn from our mistakes, make things right for customers who were harmed, and begin to rebuild trust. The report addresses actions Wells Fargo has taken—and continues to take—to improve its culture, revamp its organizational structure, and strengthen risk management and controls.”
2020-04-08T16:52:00Z By Jaclyn Jaeger
An asset cap imposed on Wells Fargo in response to systemic failures at the bank in recent years has been temporarily modified to reduce limitations on its ability to distribute loans amid the coronavirus pandemic.
2020-02-28T17:29:00Z By Jaclyn Jaeger
Two more settlements reached by Wells Fargo with regulators in the span of a week impart yet more “what not to do” ethics and compliance lessons.
2020-02-21T21:55:00Z By Jaclyn Jaeger
The Department of Justice and Securities and Exchange Commission on Friday assessed total civil and criminal penalties of $3 billion against Wells Fargo & Co. and its subsidiary, Wells Fargo Bank, in the aftermath of its fake account scandal.
2025-09-25T20:36:00Z By Jaclyn Jaeger
New regulations, changing consumer demands, and global supply chain disruptions – from cost-of-goods inflation to tariffs to raw material shortages, and more – are just a few top challenges reshaping the operations of food and beverage industry today. “These challenges are no longer just logistical—they implicate sourcing risk, contract performance, ...
2025-09-17T19:03:00Z By Ruth Prickett
More than half of all compliance teams are “actively using” or “piloting” AI applications, according to a Moody’s report. While most are focusing on streamlining routine tasks, some are developing AI agents and asking vital questions about AI decision-making.
2025-08-06T14:00:00Z By Aaron Nicodemus
The Trump administration’s designation of Mexican cartels as terrorist organizations in February has made doing business in Mexico riskier than ever before for corporations.
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