Wells Fargo Scrambles to Deal With New Crisis

Wells Fargo & Co. https://www.wellsfargo.com/ chief Timothy Sloan received a terse call last Tuesday from the Federal Reserve and Federal Deposit Insurance Corp.: That afternoon the regulators would publicly announce the bank had flunked a vital test and would be slapped with first-of-their-kind penalties.

By EMILY GLAZER and RYAN TRACY

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