TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer said the Federal Reserve's move to require Wells Fargo (WFC) to replace various board members sends a very strong message.

"It basically says, if you conned people, you will have to pay," Cramer said. 

Want more exclusive investing insight from Jim Cramer? Get 24/7 access to Jim's charitable trust portfolio with a free trial to Action Alerts PLUS!

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