Wells Fargo’s application letter to the FTC for a consent decree

The Wells Fargo application letter for the consent decree that would make the bank subject to FTC oversight is now available.

The filing comes after an SEC investigation of Wells Fargo found that the bank misled investors and customers about the extent of its losses and that the company may have violated the Bank Secrecy Act.

The letter from Wells Fargo says that the consent order could “enable the Commission to conduct a broad review of the bank’s practices and identify new and effective ways to ensure the safety and soundness of the business of the financial institution.”

The letter does not specify how much money Wells Fargo would lose under the consent agreement.