Regulator Vows Scrutiny of Next Wells Fargo Chief Executive

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WASHINGTON—A top banking regulator told lawmakers Wednesday his agency plans to keep close tabs on Wells Fargo & Co. and will vet the next chief executive at the lender.

Comptroller of the Currency Joseph Otting, testifying before the Senate Banking Committee, said he remains disappointed with Wells Fargo over consumer abuses and management problems that have plagued the bank for years.