WASHINGTON, April 24 Wells Fargo & Co
has presented the Federal Reserve with a satisfactory plan on
how to unwind its business in case of bankruptcy, the U.S.
central bank said on Monday.
The resolution plan, or "living will", is required of the
nation's largest banks and is meant to help prevent a future
In December, the Fed and Federal Deposit Insurance
Corporation notified Wells Fargo that the bank's plan fell
short. In its Monday announcement, the regulators said Wells
Fargo has "adequately remedied the deficiencies."
(Reporting By Patrick Rucker; Editing by Meredith Mazzilli)