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American Banker – OCC Hasn’t Issued Wells Fargo’s CRA Score in Eight Years

The Wells Fargo fake account scandal, first uncovered by the Los Angeles Times in 2013, is growing. Perhaps that is not surprising, given how egregious the scheme was and the tepid response from the bank. In creating a boiler-room sales environment, the bank failed its investors and front-line employees, but it also failed its customers and communities….However, Wells Fargo has not had a new CRA rating released since 2008, even though its last CRA exam occurred in 2012. The absence of a recent CRA rating for Wells Fargo raises questions about enforcement of the CRA, including accountability for harmful practices.”

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