Wells Fargo Sees ‘Possible’ Legal Losses Rising by $500 Million ~ AJJ News

Thursday 28 February 2019

Wells Fargo Sees ‘Possible’ Legal Losses Rising by $500 Million

February 28, 2019

The higher estimate for “reasonably possible” legal losses -- essentially a worst-case scenario -- shows risks grew as the bank and authorities examined abuses in recent months and discussed potential penalties. The change stems from “a variety of matters,” including probes of its sales to retail customers, Wells Fargo wrote Wednesday in an annual regulatory report.