Too-Big-to-Fail

Wells Fargo told to fix its risk management practices Sherrod Brown (D-OH), the chairman of the U.S. Senate Banking Committee, has said Wells Fargo chief executive Charles Scharf must fix the bank’s governance and risk management issues, as he highlighted what he described as a “laundry list” of consumer abuses and compliance failures. “It is clear that Wells Fargo still has a long way to go to fix its governance and risk management before it should be allowed to grow in size,” Sen. Brown wrote in an open letter to Mr. Scharf. “It is unacceptable that after years of failed attempts, nothing seems to have improved.”