Business

Wells Fargo shares hammered by investors after unprecedented punishment by Federal Reserve

The Federal Reserve ordered Wells Fargo & Co. on Friday to cap its growth and improve its corporate governance, punishment for what the regulator called “widespread consumer abuses and other compliance breakdowns” at the San Francisco financial giant.

On a day when the Dow experienced its biggest point loss in history, Wells Fargo & Co. did twice as bad.

All Sources: Los Angeles Times Los Angeles Times

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