Why Wells Fargo Stock Popped Today

Shares of Wells Fargo (WFC 7.71%) jumped Thursday after the company finally put the 2016 fake-account scandal behind it, as the Office of the Comptroller of the Currency (OCC) terminated a consent order it had issued in 2016 in response to Wells Fargo creating fake accounts in order to make sales quotas. As of 2:30 p.m. ET, the stock was up 7.5% on the news. Wells Fargo repairs its reputationCEO Charlie Scharf said in response to the announcement, "I have repeatedly said that implementing a risk control fra ...