Wells Fargo

WSJ: Fed investigation into Wells Fargo broadens

A federal investigation into Wells Fargo has broadened to include its wealth-management division, according to a Wall Street Journal report Friday.

Wells Fargo is wrestling with the aftermath of a scandal in its retail banking unit in which, among other things, employees opened up millions of fake accounts without customer authorization.

The Justice Department is now investigating whether Wells Fargo made inappropriate recommendations or referrals, or failed to inform customers about potential conflicts of interest, the Journal reported, citing unnamed people familiar with the matter.

A bank spokesman declined to comment on the report Friday.

The bank...