Merrill, Wells Fargo and SEC

Wells Fargo, Merrill to Pay $60 Million Penalties Over Cash Sweep Accounts: SEC
Advisory clients’ uninvested dollars were automatically swept into bank accounts that paid paltry interest, but were profitable for the companies, the SEC said.
Wells Fargo firms, Merrill Lynch to pay $60 mln to settle SEC charges
The U.S. Securities and Exchange Commission (SEC) on Friday said a pair of Wells Fargo Advisory firms and Merrill Lynch have agreed to pay a combined $60 million in civil penalties to settle charges over compliance failures.
Wells Fargo, Merrill Cash-Sweep Accounts Shortchanged Clients, SEC Alleges
Investment adviser units of Wells Fargo & Co. and Bank of America Corp.’s Merrill shortchanged customers by funneling uninvested cash into sweep accounts that benefited the banks but not their clients,
Wells Fargo, Merrill Lynch Pay $60M to Settle Cash Sweep Charges
The yield differential between the firms' bank deposit sweep programs and other alternatives was nearly 4% higher, according to SEC claims.
Wells Fargo firms, Merrill Lynch to pay $60 million to settle SEC charges
Merrill Lynch and two Wells Fargo advisory firms have agreed to pay a combined $60 million in civil penalties to settle U.S. Securities and Exchange Commission charges over compliance failures, the regulator said on Friday.
SEC Settles Charges Against Bank of America, Wells Fargo Units
The Securities and Exchange Commission settled charges against units within Bank of America and Wells Fargo that will result in $60 million in total civil penalties. The SEC said the charges were settled against investment advisers Wells Fargo Clearing Services and Wells Fargo Advisors Financial Network as well as Merrill Lynch,
Wells Fargo Q4 Earnings: Generally Strong But Signs Of Weakening
Learn about Wells Fargo & Company's strong Q4 earnings, 2025 guidance, and stock performance, with insights on selling ...
Wells Fargo raises interest income forecast as strong dealmaking drives profit beat
Wells Fargo's profit beat expectations in the fourth quarter, powered by a rebound in dealmaking activity and forecast it ...
Wells Fargo Shares Rise as Bank’s Cost-Cutting Efforts Take Hold
Wells Fargo & Co. took a $647 million severance charge in the fourth quarter, as Chief Executive Officer Charlie Scharf ...
Wells Fargo ex-exec appeals $1.5M fine, OCC enforcement order
Paul McLinko served as the bank’s executive audit director during its 2016 fake-accounts scandal. He called the penalty ...
Wells Fargo scandal: US bank regulator fines three former executives over fake accounts
The trio had been previously charged by the OCC in 2020, alongside other former senior leadership of the bank, but had opted ...
Wells Fargo's Fourth-Quarter Profit Tops Estimates
Wells Fargo reported earnings per share of $1.43 for the fourth quarter, beating Wall Street’s consensus estimate of $1.35. A ...
Wells Fargo shares jump after earnings beat, strong 2025 guidance
The lender expects 2025 net interest income, a key measure of what a bank makes on lending, to be 1% to 3% higher than 2024’s ...
Wells Fargo CFO says office CRE fundamentals ‘remain weak’
Wells Fargo's quarterly earnings call included discussion of what the eventual lifting of the Fed-imposed asset cap would ...