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US Federal Reserve to Focus Supervision on Big Banks After Wells Fargo Abuses

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Federal Reserve Chair Janet Yelen said that the US Federal Reserve will focus its supervision on large banking institutions after the abuses exposed at Wells... 21.09.2016, Sputnik International

2016-09-21T19:31+0000

2022-08-06T11:15+0000

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US Federal Reserve to Focus Supervision on Big Banks After Wells Fargo Abuses

19:31 GMT 21.09.2016 (Updated: 11:15 GMT 06.08.2022)

The Federal Reserve headquarters in Washington, DC - Sputnik International

Federal Reserve Chair Janet Yelen said that the US Federal Reserve will focus its supervision on large banking institutions after the abuses exposed at Wells Fargo.

Trump's 'Self-Dealing' Charity Scam; Warren's Wells Fargo Takedown

20 September 2016, 09:39 GMT

WASHINGTON (Sputnik) — The US Federal Reserve will focus its supervision on large banking institutions after the abuses exposed at Wells Fargo, Federal Reserve Chair Janet Yelen said in a briefing on Wednesday.

"In terms of our [Federal Reserve] overall supervisory responsibility for Wells [Fargo] and other large banking organizations… this will be a particular focus of our supervision," Yellen said when asked about the recent Wells Fargo abuses.