Wells Fargo Anti-Laundering Probe

This is a news story, published by Franknez.com, that relates primarily to Wells Fargo news.

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federal investigation

Franknez.com

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Wells Fargo Is Now Under Federal Investigation

Summary

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71% Informative

Wells Fargo is now under federal investigation over issues in its anti-money laundering and sanctions programs, the bank said.

The company did not specify which government was inquiring about its practices, nor did it give details about the issues that were being probed.

Big banks such as JPMorgan Chase , Bank of America and Wells Fargo are boosting their financial defenses as they prepare for customer inflow to dwindle.

Banks are significantly increasing the amount of capital they are setting aside to cover potential losses from rising credit card and loan defaults.

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semi-formal

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English

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