Wells Fargo filed its latest quarterly report on Tuesday, and you may have seen news that new CEO Charlie Scharf wants to cut back spending on outside compliance consulting dramatically — spending that he described as “beyond anything I’ve ever seen.”
That spending, of course, stems from the seemingly endless number of compliance failures Wells Fargo has endured since 2016, when regulators first whacked the bank for its false accounts scandal.
As I read Scharf’s comments, I wondered: just how much has Wells Fargo been spending on outside compliance help, anyway? So I went to the data to find an answer. Read the complete article HERE.