New York Attorney General Underwood Announces $65 Million Settlement With Wells Fargo For Misleading Investors Regarding Cross-Sell Scandal -Wells Fargo Failed To Disclose To Investors That Success Of Cross-Sell Efforts Was Built On Misconduct – Such As Opening Millions Of Fake Deposit And Credit Card Accounts; Ny Investors Lost Millions When Misconduct Was Disclosed - Settlement Marks Latest Martin Act Enforcement Action To Protect Ny Investors And Integrity Of Financial Marketplace

Attorney General Barbara D. Underwood announced today that Wells Fargo & Company will pay a $65 million penalty following the Attorney General’s investigation into the bank’s fraudulent statements to investors in connection with its “cross-sell” business model, related sales practices, and the bank’s publicly reported cross-sell metrics.