Well, WELLS, WELLS

The Consumer Financial Protection Bureau and Office of Comptroller of the Currency have notified Wells-Fargo that they would be willing to resolve investigations related to Well’s risk management for $1 billion.  This is an added blow to the problems identified in February when the Federal Reserve sanctioned the bank for failing to have proper risk controls.   The company has recently reported a first-quarter profit increase.  These results, however, weren’t enough to dispel investors’ fears related to the bank’s ability to grow and contain costs.  (This is a synopsis of information reported in WSJ, Apr 14-15, 2018 edition.)

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