The California Attorney General’s Office has launched a criminal investigation into Wells Fargo (WFC.N) over allegations it opened millions of unauthorized customer accounts and credit cards, according to a seizure warrant seen by Reuters.
Attorney General Kamala Harris authorized a seizure warrant against the bank that seeks customer records and other documents, saying there is probable cause to believe the bank committed felonies.
The probe marks the latest setback for the bank in a growing scandal that led to the abrupt retirement of its chief executive officer, monetary penalties, compensation clawbacks, lost business and damage to its reputation.
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