The Consent Order was redundant.

All the Directors involved had already announce their retirements.

The bank had already implemented everything in the Order.

What is going on with the Fed and Wells Fargo (WFC).  On her last day Fed Chairman Janet Yellen places Wells Fargo (WFC) under a redundant consent order that only penalizes the employees holding stock or stock options and all the stockholders and pension funds holding the stock.

Next week, I'm sure there will be an investigation to see who bought puts and who sold the stock short ahead of the Consent Order announcement.

Yes, I am a former employee of Wells Fargo and my account and family members own or have options on Wells Fargo (WFC) stock.

What this story unfold!


News Articles:

Federal Reserve Imposes New Penalties On Wells Fargo

Wells Fargo Commits To Satisfying Consent Order With Federal Reserve

Disclosure: I am/we are long WFC.

Additional disclosure: I and family members do own WFC stock or stock options.