Wells Fargo says it won't face SEC action on mortgages

Wed Nov 28, 2012 6:10pm EST

Nov 28 (Reuters) - Wells Fargo & Co on Wednesday said the staff of the U.S. Securities and Exchange Commission has notified the bank that it doesn't plan to recommend any enforcement action after an investigation of its mortgage-backed securities offerings.

The No. 4 U.S. bank by assets disclosed in February that it may face an enforcement action from the SEC over disclosures in mortgage-backed securities offering documents. Wells said in a securities filing that it was informed on Nov. 20 that the investigation had been completed.

An SEC spokesman declined to comment. Wells Fargo was not immediately available for comment.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.