Wells Fargo Bogus-Account Scandal Said to Draw U.S. Probe

Updated on
  • N.Y., California prosecutors said to look at bank, individuals
  • Bank apologized for opening accounts without customer approval

Banking's Mr. Clean Stares Down Account Scandal

Federal prosecutors are investigating Wells Fargo & Co. in connection with the bank’s sales practices after it agreed to pay $185 million in fines for opening more than 2 million unauthorized accounts, according to a person familiar with the Justice Department investigation.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.