In light of the account fraud at Wells Fargo, we put together a venn diagram showing the overlap between Wells Fargo, specifically, and the federal government agencies that regulate the banking industry.
The Consumer Financial Protection Bureau (CFPB) is a government agency that was created in response to the 2008 financial crisis, presumably to protect consumers from the corrupt and/or illegal behavior of large banks. This agency now drafts much banking regulation, and is just another agency targeted by the big banks like Wells Fargo for regulatory capture, as the hiring of Applegate and Carroll clearly illustrates.
Wells Fargo CEO John Stumpf isn't included on this venn because, although Stumpf was a representative to the Federal Reserve's advisory council (until he recently resigned), the Federal Reserve is a private corporation, not a government entity.
