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Bakhtiari & Harrison Help Former Wells Fargo Financial Advisors Rebuild Their Careers

In recent years, Wells Fargo Bank has faced significant scrutiny and legal action for its role in a widespread fraudulent scheme to open unauthorized customer accounts. This scandal not only impacted countless customers but also led to the unfair termination of numerous financial advisors and bankers. At Bakhtiari & Harrison, we are dedicated to defending […]

Wells Fargo Pulls Back From Mortgage Business

Wells Fargo could be looking at a major reduction in its once market-leading mortgage business, Bloomberg reported over the weekend. Wells Fargo shares edged lower Monday following a report from Bloomberg news that suggested the bank is preparing to significantly reduce its once-leading mortgage business. Bloomberg said the shift, which is expected to include big […]

Wells Fargo Agrees To $79 Million Employee Deferred Compensation Settlement

Wells Fargo has agreed to pay $79 million to settle a class-action lawsuit related to deferred compensation for former financial advisors of the banking company. The class action covers more than 1,000 former advisers who said they were wrongly required to forfeit deferred compensation when they left Wells Fargo. The lead plaintiff, Robert Berry, said […]

Wells Fargo under investigation by DOJ and SEC

With Wells Fargo’s credit card and savings divisions already disciplined by the Federal Reserve over a fake account scandal during which the bank opened bogus accounts on behalf of its customers, federal officials have begun an investigation into Wells Fargo Wealth Management to determine whether Wells Fargo’s investment wing inappropriately sold clients in-house investments using […]

SEC Charges Rhode Island Agency and Wells Fargo With Fraud in 38 Studios Bond Offering

The Securities and Exchange Commission today charged a Rhode Island agency and its bond underwriter Wells Fargo Securities with defrauding investors in a municipal bond offering to finance startup video game company 38 Studios. The Rhode Island Economic Development Corporation (RIEDC, now called the Rhode Island Commerce Corporation) issued $75 million in bonds for the […]