FYI: Wells Fargo & Co. investors who were learning to live with an unprecedented penalty the Federal Reserve imposed for bad behavior will have their patience tested again as details emerge on another scandal.
The bank disclosed earlier this month that it faces a U.S. inquiry into its purchase of low-income housing credits. Late Friday, Bloomberg Opinion columnist Stephen Gandel reported that the Justice Department is looking into whether Wells Fargo and other banks colluded with developers on bids for the tax credits.
Regards,
Ted
https://www.bloomberg.com/news/articles/2018-08-12/wells-fargo-investors-patience-tested-anew-with-scandal-details
