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Coverage dated August 7, 2023

Wells Fargo’s $125 Million Fine For Employees Using WhatsApp Marks Latest Run-In With Regulators And Courts

Headline from Forbes

Wells Fargo’s history is riddled with multi-million dollar legal settlements and billions of dollars paid to regulators.

Forbes's own description from its feed. We collect headlines and these descriptions, not full articles; read the original reporting below.

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Reports & sources

7 articles, oldest first.

  1. Insider

    A group of Wall Street banks have been fined $549 million for using WhatsApp and other messaging apps to discuss business (opens Insider)

    Published

    Insider's feed description

    Wells Fargo, BNP Paribas, and BMO Capital Markets are among those being fined millions by both the SEC and CFTC.

  2. FOX Business

    Wells Fargo, BNP among firms fined $260 million over use of WhatsApp, texts (opens FOX Business)

    Published

    FOX Business's feed description

    Regulators issued fines against several financial firms, including Wells Fargo and BNP Paribas, for failing to maintain records of employee communications on unapproved platforms.

  3. Forbes

    Wells Fargo’s $125 Million Fine For Employees Using WhatsApp Marks Latest Run-In With Regulators And Courts (opens Forbes)

    Published

    Forbes's feed description

    Wells Fargo’s history is riddled with multi-million dollar legal settlements and billions of dollars paid to regulators.

  4. NBC Los Angeles

    Banks hit with $549 million in fines for use of Signal, WhatsApp to evade regulators' reach (opens NBC Los Angeles)

    Published

    NBC Los Angeles's feed description

    Wells Fargo, a relatively small player on Wall Street, racked up the most fines Tuesday, with a total of $200 million in penalties.

  5. Bloomberg

    Wells Fargo Pays $125 Million SEC Penalty Over WhatsApp Case (opens Bloomberg)

    Published

    Bloomberg's feed description

    Wells Fargo & Co. and BNP Paribas SA will pay millions of dollars in penalties for employees using unofficial communications like WhatsApp to conduct business as the Securities and Exchange Commission deepens its crackdown on how Wall Street keeps records.

  6. Wall Street Journal

    Wells Fargo, BNP Paribas, Others to Pay $555 Million in Fines for Use of Messaging Apps (opens Wall Street Journal)

    Published

    Wall Street Journal's feed description

    Several Wall Street firms admitted employees used WhatsApp and iMessage for business communications in violation of record-keeping rules, as U.S. market regulators continue an industrywide sweep.

  7. NBC News

    Banks hit with $549 million in fines for use of Signal, WhatsApp to evade regulators (opens NBC News)

    Published

    NBC News's feed description

    The firms admitted that from at least 2019, employees used side channels like WhatsApp to discuss company business, failing to preserve records “in violation of federal securities laws,” the SEC said Tuesday.

Wells Fargo’s $125 Million Fine For Employees Using WhatsApp Marks Latest Run-In With Regulators And Courts | Since Then