Wells also pays due to floating-rate bank loan fun
Firm: Wells Fargo Advisors
Fine Amount: $1,250,000
Restitution Amount: $2,000,000
Total Paid by Firm: $3,250,000
Cause: Wells Fargo, along with Merill Lynch, got this fine for selling mutual funds of floating-rate bank loans during the credit crisis that were not suitable for their clients.