Banks can thank Wells Fargo for the additional expense

Due to sales practices at Wells Fargo, banks across the industry are being examined. Banks are always being examined, of course, but additional examinations are being added. And, this is all being done in quick order. When the Wells Fargo CEO testified in front of Congress, it sent a single to the industry that this was likely to happen. It isn’t so much about what was said but that it was taking place that indicated to the industry. 

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