Wells Fargo — the largest U.S. bank by market value — is about to find itself on the business end of a legal enforcement action care of the Office of the Comptroller of Currency. The issue? Cross-selling of products and sales tactics.
This marks the second big ding from regulators Wells Fargo has had to endure of late — a few weeks ago, the CFPB hit the banks with a fairly robust fine over student lending practices it labeled “highly deceptive.” Wells Fargo — like so many banks before it — has agreed to pay the fee without formally admitting guilt of any kind.