For the second time in recent years, Wells Fargo is in hot water over its efforts to prevent money laundering, with its main federal regulator imposing the latest penalty on Sept. 12. The Office of the Comptroller of the Currency flagged "deficiencies" at the megabank in an enforcement action released on Sept. 12. The action is a major setback for Wells, which was freed from a separate anti-money-laundering order with the OCC in 2021. The bank's stock plunged by about 4% later that day after the news. Investors have been hoping that Wells CEO Charlie Scharf, who joined the bank in late 2019, will finally be able to rid the San Francisco company of its numerous regulatory troubles. Read more: Wells Fargo gets hit with new AML enforcement action