SEC Drops Probe Of Wells Fargo

SEC Drops Probe Of Wells Fargo The U.S. Securities and Exchange Commission (SEC) has ended its inquiry into allegations of possible fraud connected to Wells Fargo's mortgage-backed securities (MBS).

Reuters, citing a securities filing by the San Francisco-based lender, reports that the SEC informed Wells Fargo that it closed its investigation on Nov. 20 and will not proceed with an enforcement action. Wells Fargo initially received a notice from the SEC in February, stating that it planned to investigate the potential for fraud in a $60 million MBS transaction.

Neither the SEC nor Wells Fargo commented on the Reuters report.


Please enter your comment!
Please enter your name here