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Wells Fargo & Co. suspended two executives in the midst of a federal investigation into the bank's purchase of low-income housing tax credits, according to a Tuesday report from Bloomberg.
Wells Fargo & Co on Aug. 31 raised the estimate of accounts opened without customers' knowledge by 1.4 million, bringing the total to about 3.5 million. The scandal over phony accounts came to light last September after the company announced a $185 million settlement with regulators to atone for the sales abuses.
A website soliciting complaints from Wells Fargo employees, www.dol.gov/wellsfargo , has not been working since Jan. 20, the day President Donald Trump took office, according to U.S. Sen. Elizabeth Warren, D-Mass. A website soliciting complaints from Wells Fargo employees, www.dol.gov/wellsfargo, has not been working since Jan. 20, the day President Donald Trump took office, according to U.S. Sen. Elizabeth Warren, D-Mass.
Wells Fargo & Co. wants a federal court judge in Utah to order that customers suing the banking giant over improper sales practices submit their claims to binding arbitration.
Wells Fargo & Co. was sued by customers in what may be the first of many lawsuits to come after disclosures that employees created unauthorized accounts to boost the bank's fees.