Wells Fargo’s 401(k) practices are the subject of a probe by the U.S. Labor Department, The Wall Street Journal reported late last week. The investigation explores whether the bank is pushing its customers from lower-cost plans into more expensive IRAs, according to the report. This latest piece of news is another black eye for the bank, which is still recovering from a 2016 fake accounts scandal and paid a $1 billion fine over misconduct in its mortgage lending and auto businesses last week.
Read more from CNBC here.