Relevant:
- Wells Fargo CMBS Servicer Ratings Fall on Management Concern
- Wells Fargo to pay $6.5 million to settle SEC charges - The Hill's On The Money
- Wells Fargo to pay $6.5 million to settle SEC charges - The Hill's On The Money
- Fitch Downgrades Wells Fargo Master Servicing Rating
- Wells Fargo Financial Consolidates; 683 offices close, 3800 jobs gone
2012-08-14 — dailyfinance.com
``The SEC report accused Wells Fargo of improperly selling asset-backed commercial paper structured with high-risk mortgage-backed securities and collateralized debt obligations to municipalities, non-profit institutions, and other customers. The charge said that Wells Fargo did not obtain sufficient information about these investment vehicles and also charges that the bank relied almost exclusively upon their credit ratings.''
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