Wells Fargo has been asked by investors to plan for how to avoid ethical lapses in the future. (Photo: AP)
(Bloomberg) –Wells Fargo & Co. agreed to publicly report on the root causes that led to a rash of ethical lapses in recent years, a group of investors said.
The group, led by the Interfaith Center on Corporate Responsibility and including about 20 religious organizations as well as state officials from Rhode Island and Connecticut, said Tuesday they would withdraw a shareholder proposal on the issue following the bank's decision. They had sought to put it to a vote at the lender's annual meeting in April.
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