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- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
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- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
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Wells Fargo Receives SEC Wells
February 28, 2012
'Wells gets a Wells', courtesy of the SEC, which is poised to file charges against the bank relating to its disclosures in mortgage-backed securities (MBS) offerings, according to Tuesday's annual Form 10-K filing. SF-based Wells Fargo, the 4th-largest U.S. bank by assets, said it continues to provide information requested by various agencies in unspecified investigations. A Wells Fargo spokesperson declined to comment further.
The SEC's MBS-related investigations reportedly focus on whether Wells Fargo may have violated fair lending laws in originating home loans, or whether it properly disclosed risks and facts about residential mortgage-backed securities. Wells Fargo is the largest originator of home loans in the U.S.
For further details: [Reuters, 2/28/12]
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