Experts address compliance lessons from Wells

This week’s Senate Banking Committee hearing on the CFPB’s $100 million consent order against Wells Fargo will be the first of several Congressional hearings and other federal probes into the lender’s employee sales incentive programs.

But while many are expecting lawmakers to grill the bank about its illegal conduct, the CFPB could face some tough questions, as well.

Read on to find out what two compliance experts have to say about the regulatory response coming out of this consent order and what kind of changes the financial services industry could ultimately see as a result.