Review the following to prepare for the discussion:
Fed Won’t Lift Wells’ Growth Cap Until Deficiencies Are Fixed: Powell.
Letter From Senator Warren to Fed on Wells Fargo FHC StatusLinks to an external site. [PDF].
Insights From Your Professor
When I think I will have to find another case to replace Wells Fargo, they give me a gift to continue the story:
Wells Fargo Gamed System in Investor Arbitration, Judge Says
Wells Fargo to pay $7 million Over Alleged Anti-Money-Laundering Glitches
Wells Fargo to Pay Record CFPB Fine to Settle Allegations It Harmed Customers
Is Goldman Sachs the next Wells Fargo?
Federal Reserve Probes Goldman Consumer Business
The Humbling of Goldman Sachs- Being Good in a Bad Industry is Not Enough, The Economist Magazine, January 28-February 3rd
And will Earnst and Young join the dysfunctional governance group?
Upon learning that the management leading the auditing for EY was helping new employees cheat on the auditing tests, the firm will be split, with auditing an
independent business and Tax consulting another business.; Can the auditing business survive with its tainted reputation? Auditing is slow growing, and the
tax consulting division is fast growing. The separation will provide challenges to each of the newly independent companies.
