Wells Fargo sales practices report
Last year, Wells Fargo agreed to pay regulators $185 million to settle investigations into the bank’s sales practices, which pushed thousands of workers to open as many as 2.1 million accounts that customers never authorized. In the wake of that settlement, Wells Fargo’s board hired law firm Shearman & Sterling to investigate unauthorized account openings and the bank’s sales practices. The report was released Monday, April 10.
Sources: Wells Fargo & Co., Shearman & Sterling