Wells Fargo CEO Sharf told Congress the bank may still face obstacles as it resolves regulatory issues.


© Reuters FILE PHOTO: Charles Scharf, CEO of Wells Fargo, speaks at the 2021 Milken Institute Global Conference in Beverly Hills, California, U.S., Oct. 18, 2021. REUTERS/David Swanson


WASHINGTON (Reuters) – Wells Fargo (NYSE: ) CEO Charles Scharf plans to tell Congress that the bank may still face obstacles as it works to resolve long-standing regulatory issues, according to testimony released Tuesday by the House Financial Services Committee.

In his testimony, Sharf is confident the bank will resolve the issues as soon as possible, but the complexity and scale of the issues means it could be years before all regulators’ concerns are addressed.

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