Wells Fargo is fined for violations related to variable annuity switches: FINRA

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Wells Fargo & Co agreed to pay $2.1 million in fines and restitution to settle charges it failed to properly supervise brokers' recommendations that customers sell variable annuities and use proceeds to buy other investments, the Financial Industry Regulatory Authority said on Wednesday.

FILE PHOTO: Wells Fargo Bank branch is seen in New York City, U.S., March 17, 2020. REUTERS/Jeenah Moon

- Wells Fargo & Co agreed to pay $2.1 million in fines and restitution to settle charges it failed to properly supervise brokers’ recommendations that customers sell variable annuities and use proceeds to buy other investments, the Financial Industry Regulatory Authority said on Wednesday.

 

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It seems the list of crimes Wells Fargo DID NOT commit is shorter than the crimes they did. Why hasn't any bank executives gone to jail? Why is this bank still operating? CFPB

😂😂😂Why does anyone use them, they're trash and should be prohibited from doing business and their execs criminally tried

Why should anyone remain their customer Bad news, all the time.

Not again...!

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