It’s gone bad to worse for Wells Fargo. You go, Preet!
U.S. prosecutors have begun an investigation related to sales practices at Wells Fargo & Co that led the bank to agree to a $190 million settlement with regulators, a person familiar with the matter said on Wednesday.
The U.S. Attorneys’ Offices in Manhattan and San Francisco are investigating Wells Fargo, the person said, following a settlement announced on Sept. 8 over claims that some customers were pushed into fee-generating accounts they never requested.
Wells Fargo declined to comment on Wednesday. A spokeswoman for U.S. Attorney’s Office in Manhattan also declined to comment.
“We don’t comment on the existence or non-existence of any investigation,” said Abraham Simmons, a spokesman for the U.S. Attorney’s Office in San Francisco.
The investigation was first reported by the Wall Street Journal.