The Big Evil Bank Stumbles Again

The WSJ reported today (29 March 2017) that Wells Fargo has stumbled again as its CRA (Community Reinvestment Act) rating was cut to "needs improvement." (What is this kindergarten??) In short, it isn't lending enough to minorities according to the government and that means "The Big Evil" will find it more difficult to acquire more banks, open or relocate branches, and make certain types of investments. Institutions like Wells Fargo are not "evil" per se, of course, they just behave as if they were evil when they do not have proper incentives in place. I think regulators ought to audit ALL of their compensation and other incentive programs back to at least 2010, if not 2005, to look for other customers that the bank defrauded for the benefit of some of its employees.