Wells Fargo’s regulatory problems are getting worse — while its CEO’s pay is getting fatter.
The Department of Justice has expanded its probe of the bank into its sales practices, according to a report on Friday — increasing the chances its reputation will take another hit.
The widening probe, first reported by the Wall Street Journal, comes one day after the bank’s CEO defended a proposed 35 percent pay raise for his work last year.
The DOJ, as well as the Securities and Exchange Commission, has interviewed managers in the Phoenix area from the bank’s wealth management division, which typically caters to wealthier clients, the Journal reported.
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their greed knows no bounds - still too big to fail
ReplyDeleteThey are horrible to deal with
ReplyDeleteWells Fargo is a part of the Federal Reserve Bank!
ReplyDeleteTalk about the fox guarding the hen house.
LOL