The Fed and the FDIC have categorized eight banks that have exceeded 50 billion dollars in assets under the "Dodd-Frank Banking Reform", which has been frowned upon since the financial crisis of 2007-2008, and have brought some obligations to prevent financial stability in the event of bankruptcy.
These two institutions rejected the initial resolution plans of the five banks out of eight banks last April because they were missing.
Wells Fargo, one of the largest banks in the US, has also been sentenced to $ 185 million in the recent past, claiming that over 2 million deposits and credit card accounts have been unauthorized and confidential from customers. The Bank's Chairman and Chief Executive Officer, John Stumpf, has decided to make a retirement on public reaction to the "fake account" scandal.
Let's see how they play this time.