As legal troubles mount, Wells Fargo sets aside more money to deal with fallout from accounts scandal
Wells Fargo’s legal troubles are building, the San Francisco bank confirmed on Thursday, noting that the Securities and Exchange Commission is now looking into its sham accounts scandal. The bank has struggled to contain the damage from its acknowledgement in September that thousands of its employees opened accounts customers didn’t ask for,
SEC Probing Wells Fargo Around Sales-Practice Disclosures
The Securities and Exchange Commission is probing whether Wells Fargo & Co. violated rules around investor disclosures and other matters relating to its recent sales tactics scandal, people familiar with the matter said. The SEC sent requests for information to the bank asking for documents in recent weeks, following three Democratic senators’ calls in late September for the SEC to
Twelve U.S. senators urge security rejection of China aluminum M&A deal
WASHINGTON, Nov 2 (Reuters) – Twelve U.S. senators urged on Wednesday that a national security review panel reject Chinese aluminum giant Zhongwang International Group Ltd’s proposed $2.3 billion purchase of U.S. aluminum products maker Aleris Corp . The senators asked Treasury Secretary Jack Lew in a letter to launch a
Merkley, Franken Call for Criminal Investigation into Actions of Wells Fargo
PORTLAND, OR – Today, at a news conference outside a Wells Fargo branch in Portland, Oregon, U.S. Senators Jeff Merkley (D-OR) and Al Franken (D-MN) announced that they are calling on federal officials to pursue a robust criminal investigation into the actions of the bank and its executives. Last month,
Three Senators Ask SEC to Investigate Wells Fargo
Three Democratic senators asked the Securities and Exchange Commission to investigate whether Wells Fargo & Co. misled investors and violated whistleblower protections while allegedly engaging in illegal sales practices. Sens. Jeff Merkley (D., Ore.), Elizabeth Warren (D., Mass.) and Robert Menendez (D., N.J.) wrote a letter to SEC Chairman Mary
Merkley, Warren, Menendez Urge SEC Investigation of Wells Fargo for Misleading Investors and Violating Whistleblower Protections
WASHINGTON, D.C. – Today, Oregon’s Senator Jeff Merkley and Senators Elizabeth Warren and Bob Menendez formally called on the U.S. Securities and Exchange Commission (SEC) to investigate whether Wells Fargo and senior officials violated laws by misleading investors and firing whistleblowers while the bank oversaw the creation of millions of
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