$22 million for allegedly firing another whistleblower because the employee reported concerns to management that colleagues were falsifying customer information, engaging in price-fixing and colluding on interest rates .from the Department of Labor allegedly discovered the company was overcharging its current and former employees for the company’s stock in their 401 accounts, resulting in Wells Fargo agreeing to pay about $131.8 million to the affected employees and about $13.
After being sued by a group of shareholders who alleged that the company mishandled the cleanup of its phony account scandal that was settled in 2020, Wells FargoWells Fargo’s most recent fines—paid to the SEC for illegally using WhatsApp and personal messaging to conduct business—is part of a larger crackdown on Wall Street firms’ failure to keep consistent records, which the agency requires for audits and investigations.
Source: Law Daily Report (lawdailyreport.net)
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