Nov 28 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.