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Scharf’s Day-One Message to Wells Fargo Staff: Clean Up Fast (1)

Oct. 21, 2019, 3:00 PMUpdated: Oct. 21, 2019, 4:31 PM

Charlie Scharf has some advice for Wells Fargo & Co.’s workforce on his first day running the firm. Clean things up, and fast.

In a companywide memo Monday, Scharf said Wells Fargo will put “all available resources” toward building risk and control functions and making harmed customers whole.

“Our priorities today are clear: Remediate all regulatory and control issues in the company and serve our customers every day with the highest operational and ethical standards,” Scharf said in the memo, which was seen by Bloomberg News. A Wells Fargo spokeswoman confirmed the contents of the memo.

Scharf used the ...