Wells Fargo to pay $35 million penalty over excessive fees, U.S. SEC says - Yahoo Finance

TL;DR

NEW YORK (Reuters) -Wells Fargo has agreed to pay a $35 million civil penalty to settle U. The SEC alleged that Wells Fargo and its predecessor firms overcharged certain clients who opened accounts prior to 2014 for advisory fees through the end of December 2022. And, as noted in the settlement documents, Wells Fargo Advisors conducted a thorough review of accounts and has fully reimbursed affected customers,” it said

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