Agencies announce Wells Fargo has remediated resolution plan deficiencies

Board of Governors of the Federal Reserve System press release April 24, 2017 ---- The Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board on Monday announced that Wells Fargo had adequately remediated the deficiencies in its 2015 resolution plan. As a result, the firm will no longer be subject to growth restrictions imposed last year. Resolution plans, required by the Dodd-Frank Act and commonly known as living wills, must describe the company's strategy for rapid and orderly resolution under bankruptcy in the event of material financial distress or failure of the company. To learn more click on the picture below to read the release.