Wells Fargo Pledges to Fix AML Program After OCC Agreement

Trouble with federal regulators continues for Wells Fargo. The Office of the Comptroller of the Currency (OCC) said Thursday (Sept. 12) that it has signed a formal agreement with the bank to rectify deficiencies in its anti-money laundering (AML) and financial crimes risk management practices. "The Formal Agreement identifies deficiencies relating to the bank's financial crimes risk management practices and anti-money laundering internal controls in several areas including suspicious activity and currency t ...