wells 01In a Surprise, Wells Fargo’s ‘Living Will’ Plan is Rejected


This is a wsj.com article.

San Francisco bank was lone bank that didn’t have a flawed plan in 2014.

Regulators took issue with Wells Fargo & Co.’s contingency planning, telling the bank to resubmit a plan detailing how it would go through a potential bankruptcy.

The Federal Reserve and Federal Deposit Insurance Corp. said Wednesday that they don’t think the San Francisco-based bank’s so-called living will meets the requirements of the 2010 Dodd-Frank law, an unexpected rebuke that could eventually impose higher capital requirements or other regulatory sanctions on the bank.

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