Mar 16, 2018

DOJ expands Wells Fargo investigation to wealth management

Wells Fargo ATM

ATM at a Wells Fargo Bank. Photo: John Greim/LightRocket via Getty Images

The Justice Department is broadening its probe into Wells Fargo's questionable practices to include the bank's wealth management operations, reports the WSJ citing people familiar with the situation.

Why it matters: Wells Fargo is in the midst of a massive investigation examining it's "widespread consumer abuses." The bank has "admitted that employees opened more than 3 million fake accounts in order to meet sales quotas." Wells Fargo and the DOJ have not responded for comment.

Go deeper