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Merrill, Wells Fargo and SEC

Wells Fargo, Merrill to Pay $60 Million Penalties Over Cash Sweep Accounts: SEC

Advisory clients’ uninvested dollars were automatically swept into bank accounts that paid paltry interest, but were profitable for the companies, the SEC said.

YAHOO!Finance · 20h

Wells Fargo, Merrill Cash-Sweep Accounts Shortchanged Clients, SEC Alleges

Investment adviser units of Wells Fargo & Co. and Bank of America Corp.’s Merrill shortchanged customers by funneling uninvested cash into sweep accounts that benefited the banks but not their clients,

Reuters on MSN · 17h

Wells Fargo firms, Merrill Lynch to pay $60 million to settle SEC charges

Merrill Lynch and two Wells Fargo advisory firms have agreed to pay a combined $60 million in civil penalties to settle U.S. Securities and Exchange Commission charges over compliance failures, the regulator said on Friday.

MarketWatch · 21h

SEC Settles Charges Against Bank of America, Wells Fargo Units

The Securities and Exchange Commission settled charges against units within Bank of America and Wells Fargo that will result in $60 million in total civil penalties. The SEC said the charges were settled against investment advisers Wells Fargo Clearing Services and Wells Fargo Advisors Financial Network as well as Merrill Lynch,

21h

Wells Fargo firms, Merrill Lynch to pay $60 mln to settle SEC charges

The U.S. Securities and Exchange Commission (SEC) on Friday said a pair of Wells Fargo Advisory firms and Merrill Lynch have ...

21h

Wells Fargo Q4 Earnings: Generally Strong But Signs Of Weakening

Learn about Wells Fargo & Company's strong Q4 earnings, 2025 guidance, and stock performance, with insights on selling ...

11hon MSN

California wildfire losses could cost as much as $40 billion: Wells Fargo's insurance analyst

Elyse Greenspan, Wells Fargo Securities managing director, joins 'Fast Money' to talk the mounting cost of the California ...

Wells Fargo raises interest income forecast as strong dealmaking drives profit beat

Wells Fargo's profit beat expectations in the fourth quarter, powered by a rebound in dealmaking activity and forecast it ...

Wells Fargo scandal: US bank regulator fines three former executives over fake accounts

The trio had been previously charged by the OCC in 2020, alongside other former senior leadership of the bank, but had opted ...

Wells Fargo Shares Rise as Bank’s Cost-Cutting Efforts Take Hold

Wells Fargo & Co. took a $647 million severance charge in the fourth quarter, as Chief Executive Officer Charlie Scharf ...

15h

Wells Fargo and Bank of America Agree to Pay Combined $60 Million to Settle SEC Probe

In the enforcement actions announced Friday, the regulator said the two firms agreed to settle the charges without admitting ...

bankingdive15h

Wells Fargo ex-exec appeals $1.5M fine, OCC enforcement order

Paul McLinko served as the bank’s executive audit director during its 2016 fake-accounts scandal. He called the penalty “arbitrary, capricious, an abuse of discretion, and otherwise not in accordance ...

Wells Fargo's Fourth-Quarter Profit Tops Estimates

Wells Fargo reported earnings per share of $1.43 for the fourth quarter, beating Wall Street’s consensus estimate of $1.35. A ...

Why investors seem giddy about once-troubled Wells Fargo

Wells Fargo CEO Charlie Scharf validates some of the optimism, telling analysts he feels "really great about our progress." ...

Shilo Sanders' bankruptcy case and the debate over privacy with NIL deals

The bankruptcy case involving Shilo Sanders has drawn significant attention as it tackles the complex interplay between ...

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Merrill, Wells Fargo and SEC

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