BRIEF-Wells Fargo says to satisfy consent order with Federal Reserve
Feb 2 (Reuters) - Wells Fargo & Co:
* WELLS FARGO COMMITS TO SATISFYING CONSENT ORDER WITH FEDERAL RESERVE
* “‍CONFIDENT IT WILL SATISFY REQUIREMENTS OF CONSENT ORDER IT AGREED TO TODAY WITH BOARD OF GOVERNORS OF FEDERAL RESERVE SYSTEM”​
* UNDER CONSENT ORDER, CO WILL PROVIDE PLANS TO FEDERAL RESERVE WITHIN 60 DAYS THAT DETAIL WHAT ALREADY HAS BEEN DONE, AND IS PLANNED
* ‍IN ADDITION, ORDER IS NOT RELATED TO WELLS FARGO‘S FINANCIAL CONDITION​
* WELLS FARGO CEO TIMOTHY SLOAN SAYS “WE TAKE THIS ORDER SERIOUSLY AND ARE FOCUSED ON ADDRESSING ALL OF FEDERAL RESERVE‘S CONCERNS”
* AFTER FEDERAL RESERVE APPROVAL, CO WILL ENGAGE INDEPENDENT THIRD PARTIES TO CONDUCT REVIEW TO BE COMPLETED NO LATER THAN SEPT. 30 Source text for Eikon: Further company coverage: