On the months that are following Wells Fargo additionally had to cope with new Wachovia regulatory violations and lawsuit settlements, including:

On the months that are following Wells Fargo additionally had to cope with new Wachovia regulatory violations and lawsuit settlements, including:

a $4.5 million FINRA fine in February 2009 for violations of mutual investment product product sales guidelines; a fine that is total of1.1 million levied by FINRA on Wachovia Securities and First Clearing in March 2009 for failing continually to send needed notifications to clients; a $1.4 million FINRA fine in June 2009 for neglecting to deliver disclosure papers to clients; a $40 million settlement in June 2009 of SEC fees that the Evergreen Investment Management company Wells Fargo inherited from Wachovia misled investors about mortgage-backed securities; a $160 million settlement in March 2010 of federal costs associated with cash laundering by its clients; a $2 billion settlement with all the Ca lawyer general in December 2010 of costs relating to foreclosure abuses; an $11 million settlement in April 2011 using the SEC of fees so it cheated the Zuni Indian Tribe into the purchase of collateralized debt burden; and a $148 million settlement in December 2011 of federal and state municipal securities bid rigging charges. (more…)

Continue Reading On the months that are following Wells Fargo additionally had to cope with new Wachovia regulatory violations and lawsuit settlements, including: