Wells Fargo to Pay New York $65 Million Over Cross-Selling
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Wells Fargo & Co. will pay a $65 million penalty to New York state related to its cross-selling practices.
The bank failed to disclose to investors that the success of its cross-selling -- the pitching of additional financial products to existing clients -- was built on “sales practice misconduct at the bank,” state Attorney General Barbara Underwood’s office said in a statement Monday.