NEW YORK, NEW YORK - APRIL 12: Wells Fargo bank signage is seen on Broadway on April 12, 2024 in New York City. Wells Fargo reported that its profit shrank more than 7% as it released their first quarter earnings. Shares of the bank fell 1.6% in early morning trading.  (Photo by Michael M. Santiago/Getty Images)

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The OCC has flagged the bank’s financial-crimes risk-management practices and anti-money-laundering internal controls

Senior Reporter

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Wells Fargo & Co.’s stock was falling on 12 September afternoon after the Office of the Comptroller of the Currency disclosed a fresh enforcement action against the bank. 

 of procedural changes with Wells Fargo after it identified “deficiencies related to the bank’s financial-crimes risk-management practices and anti-money-laundering internal controls”. 

Wells Fargo stock falls on fresh enforcement action by regulators

The OCC flagged the bank’s financial-crimes risk-management practices and anti-money-laundering internal controls

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