Wells Fargo & Co. (NYSE: WFC) agreed to pay a $65 million settlement on Monday for fraudulent statements to investors.
The penalty stems from Wells Fargo's cross-selling business, in which employees sell new products or services to existing customers. New York Attorney General Barbara Underwood says the bank failed to disclose to investors that its strong cross-selling efforts were driven by fraudulent sales practices, such as opening millions of fake deposit and credit card accounts without…
