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Wells Fargo plans to stop warning branches of inspections

Plans are "in process" to eliminate Wells Fargo & Co.'s practice of giving managers a 24-hour notice before the branches are visited by internal inspectors, Bloomberg News reported Jan. 24, citing Wells Fargo spokeswoman Mary Eshet.

The decision comes after news that the bank's practice of giving advanced notice of inspections reportedly gave some employees time to hide any evidence about improper practices.

Wells Fargo has yet to set a date for ending the notifications, Eshet told Bloomberg.