Wells Fargo Advisors controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2022
CFPB consumer-finance enforcement action
The CFPB ordered Wells Fargo to pay $3.7 billion in consumer relief and penalties over alleged widespread mismanagement involving auto loans, mortgages, and deposit accounts. The order addressed multiple Wells Fargo businesses rather than establishing that all Wells Fargo Advisors activities were implicated.
2016
Wells Fargo sales-practices scandal
Regulators and public authorities found that employees at Wells Fargo had opened or attempted to open unauthorized consumer accounts and engaged in improper sales practices. The principal allegations concerned the broader Wells Fargo organization, especially its consumer-banking operations, but the scandal generated company-wide governance, risk-control, and reputation consequences relevant to all major Wells Fargo businesses.