The nation’s third-largest lender by assets still faces scrutiny, with the U.S. Department of Justice and Securities and Exchange Commission examining the wealth-management unit, a person familiar with the probes has said. Chief Financial Officer John Shrewsberry told journalists on April 13 that investigations into the division are “midway through.”
Shares of Wells Fargo have declined 15 percent this year, the worst performance in the 24-company KBW Bank Index.
This article was provided by Bloomberg News.