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Wells Fargo gets regulatory questions after data breach

Recent data breach began with a financial spat between two Wells Fargo brothers over less than $1 mn

Laura J Keller | Bloomberg 

Wells Fargo & Co, already in the regulatory spotlight because of last year’s fake-account scandal, is drawing renewed scrutiny after a lawyer’s unauthorised release of sensitive client details for tens of thousands of accounts belonging to wealthy customers of its brokerage unit. Regulators have started asking questions about the breach, according to a person with knowledge of the matter, after the data was mistakenly provided to an attorney as part of a lawsuit involving two brothers, one a Wells Fargo employee and the other a former employee. A person briefed on the ...

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First Published: Sun, July 23 2017. 23:56 IST