Wells Fargo & Co. said that US regulators are investigating its retention of employee communications over unapproved messaging apps, the latest bank to get caught up in an industrywide sweep that’s already yielded over $2 billion in fines.
Probes by the Securities and Exchange Commission and the Commodity Futures Trading Commission were disclosed Tuesday in a regulatory filing. They are investigating “compliance with records-retention requirements relating to business communications sent over unapproved electronic messaging channels,” San Francisco-based Wells Fargo said.
Source: Wells Fargo Discloses US Probes as Scrutiny of Messaging Apps’ Use Widens – Bloomberg
