Fed rejects Wells Fargo’s reform plan after string of scandals

Fed rejects Wells Fargo’s reform plan after string of scandals
The Federal Reserve has rejected Wells Fargo’s plans to prevent further consumer abuses and told the scandal-plagued lender it needs stronger checks on management, according to three people with knowledge of the discussions. The concerns raised by the Fed, which have not been previously reported, are likely to increase the time it takes the central...