THE HILL

Wells Fargo faces SEC probe into unauthorized accounts

THE HILL


The Securities and Exchange Commission is investigating Wells Fargo over questions about the bank's disclosures to investors.

Wells Fargo revealed the SEC probe in a Thursday quarterly filing to regulators. The Department of Justice and the state of California are also investigating the San Francisco-based bank after it settled charges of opening nearly 2 million unauthorized accounts.

Wells Fargo "has responded, and continues to respond, to requests from a number of the foregoing seeking information regarding these sales practices and the circumstances of the settlements and related matters," the bank wrote.