Your Perfect Assignment is Just a Click Away

Starting at $8.00 per Page

100% Original, Plagiarism Free, Customized to Your instructions!

glass
pen
clip
papers
heaphones

Assignment 9

Assignment 9

Assignment 9

On September 13, 2021, Senator Elizabeth Warren sent FED Chair Jerome Powell a letter [PDF].

In the letter she wrote “Under Janet Yellen’s leadership, the Fed placed Wells Fargo under an asset cap in 2018 due to its ‘widespread consumer abuses and other compliance breakdowns.’ In the more than three years since then, numerous additional revelations have surface about Wells Fargo’s continued unethical and anti-consumer conduct. These new revelations have once again made clear that continuing to allow this giant bank with a broken culture to conduct business in its current form poses substantial risks to consumers and the financial system.” Senator Warren goes on to ask that the Fed revoke Wells Fargo’s status as a financial holding company. The action would require Wells Fargo to separate its consumer bank subsidiary from its other financial activities.

Wells Fargo is an enormous financial services company with $1.9 trillion in assets. It serves 1 in 3 U.S. households and 10% of U.S. small business.

In Well’s Fargo’s reply, it cites progress achieved under the new CEO, Charles Scharf, including:

  1. Three business group have been split into five.
  2. It has created four new functions to provide greater oversight and transparency.
  3. It has brought on board 10 new operating committee members out of the total committee of 17.
  4. It has created a new team design to facilitate oversight of consumer practices.
  5. It has created new enterprise-wide risk assessment with the intent to design new controls.
  6. It has “implemented a new incentive plan for bank branches that is governed by stronger oversight and controls, and focused on customer relationships.”

Instructions

The Fed continues to maintain that Wells Fargo has not done enough to rein in the incentive failures that revealed the frailty of its corporate governance. We have seen that several of the largest conglomerates in the United States have decided that it is time to divide their agglomerated groups into smaller units for focus and function. Johnson & Johnson will separate its consumer products division and its pharmaceutical division. GE will divide into three units: aviation, energy, and healthcare. Is it time for Wells Fargo to separate its consumer banking business from its other enterprises?

Address the following

  • What is the principal-agent problem?
  • What is the role of corporate governance?
  • How is corporate culture different than governance?

"Place your order now for a similar assignment and have exceptional work written by our team of experts, guaranteeing you A results."

Order Solution Now

Our Service Charter


1. Professional & Expert Writers: Eminence Papers only hires the best. Our writers are specially selected and recruited, after which they undergo further training to perfect their skills for specialization purposes. Moreover, our writers are holders of masters and Ph.D. degrees. They have impressive academic records, besides being native English speakers.

2. Top Quality Papers: Our customers are always guaranteed of papers that exceed their expectations. All our writers have +5 years of experience. This implies that all papers are written by individuals who are experts in their fields. In addition, the quality team reviews all the papers before sending them to the customers.

3. Plagiarism-Free Papers: All papers provided by Eminence Papers are written from scratch. Appropriate referencing and citation of key information are followed. Plagiarism checkers are used by the Quality assurance team and our editors just to double-check that there are no instances of plagiarism.

4. Timely Delivery: Time wasted is equivalent to a failed dedication and commitment. Eminence Papers are known for the timely delivery of any pending customer orders. Customers are well informed of the progress of their papers to ensure they keep track of what the writer is providing before the final draft is sent for grading.

5. Affordable Prices: Our prices are fairly structured to fit in all groups. Any customer willing to place their assignments with us can do so at very affordable prices. In addition, our customers enjoy regular discounts and bonuses.

6. 24/7 Customer Support: At Eminence Papers, we have put in place a team of experts who answer all customer inquiries promptly. The best part is the ever-availability of the team. Customers can make inquiries anytime.