Punishing Wells Fargo, not its shareholders

The trouble with banks that are too big to fail is that they’re also too big to fine.
Wells Fargo agreed to pay $185 million in 2016 to settle investigations into its creation of millions of unauthorized customer accounts, a penalty that soon seemed inadequate.
The San Francisco-based giant has since admitted to other questionable practices, including charging auto-loan customers for unnecessary insurance and hitting mortgage borrowers with improper fees.
In February, outgoing Federal Rese