:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/cmg/HM7LW3E5R6XWE4AHZCVMERKWSM.jpg)
CHARLOTTE — Wells Fargo & Co. finds itself once again in the regulatory crosshairs, with the Office of the Comptroller of the Currency saying it has reached a formal agreement with the bank over “deficiencies” in its practices to fight money laundering.
Specifically, the OCC took aim at the San Francisco bank’s anti-money laundering and sanctions risk management practices.
The OCC’s enforcement action against Wells Fargo Bank, announced Sept. 12, does not include a monetary penalty. But the agreement does not allow the bank to expand into high-risk areas without permission from the regulator.
Read the full story on CBJ’s website here.
(VIDEO: ‘I’m not calm’: Woman says someone stole $900,000 out of her bank account)
:quality(70)/d1hfln2sfez66z.cloudfront.net/08-29-2024/t_a5ebdc5e862c4bd9b0347d94e818bd20_name_PKG_BANK_WIRING_CRIME_frame_2016.jpeg)
©2024 Cox Media Group
/cloudfront-us-east-1.images.arcpublishing.com/cmg/LH3JSJEF3VBLRJLJQESEAG34AM.png)
:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/cmg/WAQV6K3PZZFMPI4CTRX3TZ7QJQ.jpeg)
:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/cmg/YNCPSLXBMNGJLIOEHYK5LTCGN4.jpeg)
:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/cmg/KPY6NILUONEN3O5JDLD75LCFVM.jpg)
:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/cmg/A63NZ4NBDBCVNJUSYTNIRJ5IZY.jpeg)
:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/cmg/Z6UUVH6SURGKVFK3YFLKZ4WW5I.jpg)