Ex-Wells Fargo CEO Slams ‘Absurd’ Compliance Spending
Image: Is the compliance ramp-up at big banks to blame for layoffs, including the 5,000 of them announced last month by JPMorgan? Richard Kovacevich, former CEO of Wells Fargo, seems to think so. “It is absurd that [banks] are investing that kind of money on compliance” he said of growing ...
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