Wells Fargo, Merrill Lynch to Pay $4.4 Million to Settle Commission Allegations
The firms agreed to pay state regulators $4.4 million over allegations of excessive commissions on more than 256,000 equity transactions.
Wells Fargo and Merrill Lynch will pay state regulators 4.4 million to resolve claims that they charged clients excessive commissions on more than 256000 equity transactions. The settlement concludes an investigation led by Massachusetts and involving eight states.