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- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- 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
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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Wells Fargo Wholesale Banking - Did Employees Alter Customer Data?
by Howard Haykin
The U.S. Department of Justice is investigating Wells Fargo's wholesale-banking unit to determine whether employees committed fraud by altering customer data - that, according to the Wall Street Journal. It's believed that management may have pressured workers to improperly change documents in order to meet a regulatory deadline.
Back in May, a person briefed on the situation said that Wells Fargo discovered that employees had added information to internal customer records without the clients’ knowledge. The bank immediately reported the findings to the Office of the Comptroller of the Currency.
More information may be available in the Wall Street Journal. (subc. reqd)
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