Wells Fargo overcharged nearly 11,000 investment accounts with advisory fees, SEC alleges

Wells Fargo has agreed to pay a $35 million civil penalty to settle allegations that it overcharged nearly 11,000 investment advisory clients a total of around $27 million in fees, according to the Securities and Exchange Commission.

cnn.com

Relevant topic timeline:

8/25/2023

Wells Fargo repays clients $40 million for excessive investment advice fees

Wells Fargo has paid $40 million to reimburse almost 11,000 customers who were overcharged on fees for investment advice, according to the SEC.

9/15/2023

Former Wells Fargo Executive Sentenced for Role in Sham Accounts Scandal

Former Wells Fargo executive, Carrie L. Tolstedt, avoids prison time and is instead sentenced to six months of home confinement, three years of probation, a $100,000 fine, and 120 hours of community service for her role in the bank's sham accounts scandal.

9/16/2023

Wells Fargo Sued for Allegedly Freezing Customer's Account and Seizing $200k After Deposit from Late Mother's Estate

Wells Fargo faces a lawsuit after allegedly seizing a customer's funds and closing his bank account over a legitimate deposit, leaving the customer unable to make house payments.