Fed?s Tarullo Met With Wells Fargo CEO After Bank Settlement

Federal Reserve governor Daniel Tarullo met in September with Wells Fargo & Co. Chief Executive John Stumpf shortly after the bank settled with regulators over its use of unauthorized accounts, according to calendars released by the Fed on Friday.

Mr. Tarullo?s meeting with Mr. Stumpf came just days after federal and local regulators announced they were fining Wells Fargo $185 million over two million unauthorized accounts.

Mr. Stumpf announced his retirement on Oct. 12. Tim Sloan, Mr. Stumpf?s successor as CEO, met with Mr. Tarullo later in the month, on Oct. 26.

Mr. Tarullo met twice with J.P. Morgan Chase Chief Executive James Dimon in September and October, the calendars show. The first meeting between Messrs. Tarullo and Dimon, on Sept. 13 of last year, was the first in a series of meetings with large bank chief executives. He spoke with James Gorman, the CEO of Morgan Stanley, and Mr. Stumpf the following day. Messrs. Tarullo and Dimon met again on Oct. 5.

Read on.

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