Investment adviser units of Wells Fargo & Co. and Bank of America Corp.’s Merrill shortchanged customers by funneling ...

Advisory clients’ uninvested dollars were automatically swept into bank accounts that paid paltry interest, but were ...

Paul McLinko served as the bank’s executive audit director during its 2016 fake-accounts scandal. He called the penalty “arbitrary, capricious, an abuse of discretion, and otherwise not in accordance ...

Merrill and Wells are facing a total of at least 11 lawsuits related to the interest rates in their cash sweep programs, and ...

The yield differential between the firms' bank deposit sweep programs and other alternatives was nearly 4% higher, according to SEC claims.

In the enforcement actions announced Friday, the regulator said the two firms agreed to settle the charges without admitting ...

The U.S. Securities and Exchange Commission (SEC) on Friday said a pair of Wells Fargo Advisory firms and Merrill Lynch have ...

Wells Fargo posted mixed Q4 earnings, with revenue lagging while EPS gained, highlighting revenue growth challenges.

The firms failed to consider the best interests of clients when selecting cash sweep programs, the agency said.

In a report released today, Lim Rui Wen from DBS maintained a Hold rating on Wells Fargo (WFC – Research Report), with a price target of ...