Wells Fargo Pays $6.5M To Settle SEC Charge Over Complex Mortgage Investment Sales

Date: Aug 14 2012

Filed under: Banking, Government

Wells Fargo & Co. (NYSE: WFC) may have taken the title for the safest of the big money center banks away from J.P. Morgan Chase & Co. (NYSE: JPM), but the bank is not immune from charges about ties to the mortgage woes of recent years.  The Securities and Exchange Commission charged Wells Fargo’s brokerage firm and a former vice president today for selling investments tied to mortgage-backed securities without fully understanding their complexity or disclosing the risks to investors.

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Wells Fargo Pays $6.5M To Settle SEC Charge Over Complex Mortgage Investment Sales originally appeared on DailyFinance.com on 2012-08-14T11:57:00Z.

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