Wells Fargo CEO Scharf to tell Congress bank could still face setbacks while addressing regulatory woes

WASHINGTON, Sept 20 (Reuters) – Wells Fargo CEO Charles Scharf plans to inform Congress that the financial institution might nonetheless face setbacks as it really works to handle longstanding regulatory points, in response to ready testimony printed by the Home Monetary Providers Committee Tuesday.

In his testimony, Scharf stated whereas he’s assured the financial institution can tackle its issues as rapidly as potential, the complexity and quantity of the problems means it’s doubtless a number of years earlier than all regulators’ issues are mounted.

Reporting by Pete Schroeder

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