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On December 13, 2016, the US Federal Reserve Board and the FDIC announced that Bank of America, Bank of New York Mellon, JP Morgan Chase and State Street had adequately remedied all deficiencies...
On December 13, 2016, the US Federal Reserve Board and the FDIC
announced that Bank of America, Bank of New York Mellon, JP Morgan
Chase and State Street had adequately remedied all deficiencies in
their 2015 resolution plans that caused the plans to be deemed
"not credible" by the regulators. The Federal Reserve
Board and the FDIC announced that Wells Fargo has not adequately
remedied two of the firm's three deficiencies and it is
expected to file a revised submission addressing the deficiencies
by March 31, 2017. Wells Fargo is subject to restrictions on
activities until the deficiencies are remedied.
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