Wells Fargo shares slip on report employees altered customer documents

Wells Fargo & Company CEO in addition to President Tim Sloan testifies before the Senate Banking Committee on Capitol Hill in Washington, October 3, 2017.

Aaron P. Bernstein | Reuters

Wells Fargo & Company CEO in addition to President Tim Sloan testifies before the Senate Banking Committee on Capitol Hill in Washington, October 3, 2017.

In a statement, a Wells Fargo spokeswoman said: “This kind of matter involves documents used for internal purposes. No customers were negatively impacted, no data left the company, in addition to no products or services were sold as a result.”

The statement also said, “We can’t comment directly on regulatory matters, yet over the past several months we’ve built more robust internal processes in which reinforce our values, in addition to if we find any situations where behavior violates those values, we take swift action to correct.”

The San Francisco-based bank has been struggling to repair the damage by a fake accounts scandal in which erupted two years ago. in which involved employees of its retail banking division creating fake accounts in customers’ names without their knowledge to meet aggressive sales goals. Since then, problems have been unearthed in its mortgage, auto lending in addition to wealth management divisions.

In its quarterly regulatory filing, Wells Fargo said the Department of Justice, the Securities in addition to Exchange Commission, the Department of Labor in addition to state attorneys general in addition to prosecutors are involved in investigations into its sales practices in addition to in which the matters are at varying stages.

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