U.S. regulator wants to loosen leash on Wells Fargo: sources

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U.S. regulator wants to loosen leash on Wells Fargo: sources

U.S. regulator wants to loosen leash on Wells Fargo: sources

Reuters-

A leading U.S. regulator wants to make it easier for Wells Fargo to pay employees when they leave, loosening a restriction in place since a phony accounts scandal hit the bank last year, according to people familiar with the matter.

The initiative comes as President Donald Trump is trying to lighten rules on Wall Street and the bank regulator, Keith Noreika, acting Comptroller of the Currency (OCC), must weigh whether to vet new Wells Fargo executives.

If Noreika’s approach prevails, the OCC could go easier on Wells Fargo and any other large banks sanctioned in the future.

[REUTERS]

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