By Jeff Dale2024-02-21T17:52:00
Wells Fargo disclosed investigations by two government agencies into the bank’s diversity hiring practices concluded without enforcement action.
In an annual report filing Tuesday, Wells Fargo said the probes launched by the Department of Justice and Securities and Exchange Commission in 2022 over alleged sham interviews of diverse candidates each closed.
The bank noted a putative securities fraud class-action lawsuit, filed in U.S. District Court for the Northern District of California, alleged the bank and certain executives made “false or misleading statements about the company’s hiring practices related to diversity.”
2024-09-17T14:27:00Z By Aaron Nicodemus
A Wells Fargo subsidiary will pay nearly $3 million to settle allegations that it failed to properly supervise an employee attempting to sell unsuitable investment products to retail investors–the fifth time it has been penalized for similar supervisory failings since 2020.
2024-08-02T19:00:00Z By Aaron Nicodemus
Wells Fargo disclosed in a public filing its anti-money laundering and sanctions programs are under investigation, adding to the already long list of compliance issues plaguing the bank.
2023-11-01T16:26:00Z By Aaron Nicodemus
Wells Fargo disclosed it is under investigation by the Securities and Exchange Commission regarding cash sweep options it provides to new investment advisory clients.
2025-07-09T18:02:00Z By Adrianne Appel
CVS has vowed to appeal $948.8 million in fines and damages imposed by a judge Tuesday on its Omnicare unit, for billing Medicare for tens of thousands of false claims.
2025-07-08T19:50:00Z By Aaron Nicodemus
Federal banking regulators have laid the blame for Discover Financial Services charging merchants $1 billion in excessive credit card fees over 17 years squarely at the feet of company executives.
2025-07-07T19:02:00Z By Aaron Nicodemus
The Consumer Financial Protection Bureau has dropped a $95 million enforcement action against Navy Federal Credit Union, the latest regulatory pullback by the agency under President Donald Trump.
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