Wells Fargo on the hook for misconduct...again

Posted at 4:21 AM, Jun 26, 2018
and last updated 2018-06-26 04:21:59-04

Wells Fargo is facing a penalty for reportedly scamming its clients again.

This time, the Security and Exchange Commission says the bank took advantage of its brokerage clients who hold market-linked investments.

They're types of bonds meant to be held until maturity.

Officials say the bank improperly pushed clients to sell early, so it could rack up extra fees.

Wells Fargo is facing a $4 million fine.

Over the past two years, Wells Fargo has been caught up in a series of scandals over how the bank treats its account holders, borrowers and employees.