WASHINGTON (Reuters) – From submitting their fingerprints to giving up their tax data, Wells Fargo & Co’s subsequent chief govt will undergo a vetting course of that would rival that of prime U.S. authorities officers.
A Wells Fargo emblem is seen in New York Metropolis, U.S. January 10, 2017. REUTERS/Stephanie Keith
Comptroller of the Foreign money Joseph Otting stated final week he would invoke a little-known regulation to evaluation Wells Fargo’s board decide to interchange Tim Sloan, who in March grew to become the second CEO to depart the financial institution amid a sequence of buyer abuse scandals.
Created throughout the savings-and-loan disaster, the 1989 regulation permits…