What was the result of account fraud by Wells Fargo in 2018?
Closure of branches
Resignation of CEO
Bar from growing its asset base
Acquisition by another bank
Answer
In 2018, account fraud by Wells Fargo resulted in the Federal Reserve barring the bank from growing its nearly $2 trillion-asset base any further until the company fixed its internal problems to the satisfaction of the Federal Reserve.
Master of Finance: How Well Do You Know Wells Fargo?
More Questions
What was the reason for Wells Fargo's fine from the United States Justice Department in September 2021?
What was the amount of the fine levied upon Wells Fargo by the U.S. in December 2022?
What was the reason for Wells Fargo's technical glitch in March 2023?
What was the crime committed by Wells Fargo employees that led to prison sentencing in 2023?
In which year was Wells Fargo & Company formed?
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