Relevant:
- The Fed's unprecedented slap at Wells Fargo may cost the bank more than merely $400 million this year
- Wells Fargo’s Bad Loans Rise in Quarter; Shares Drop
- Morgan Stanley quarterly profit drops 42 percent, shares plunge
- Berkshire Dragged Down As Wells Fargo Stake Plunges
- In Another Blow, Wells Fargo Faulted for `Extensive' Discrimination in Review
2018-02-05 — bloomberg.com
...
The Wells Fargo sanction -- called unprecedented by Fed officials -- arguably marks an apex for central-bank enforcement actions that have been ratcheting up in recent years.
The Fed has at times put a bank's growth in check, such as in 2005 when it told Citigroup Inc. that it was expected to not undertake "significant expansion" until it addressed the issues that gave rise to numerous compliance failures. But before the 2008 financial crisis, the Fed wasn't known for punishing lenders.
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