The Securities and Exchange Commission
The Labor Department
Labor Secretary Thomas Perez said in a letter to Democratic senators that his department would conduct a "top-to-bottom review of cases, complaints, or violations concerning Wells Fargo over the last several years."
The Occupational Safety and Health Administration has received a number of whistleblower complaints from former employees over the last five years, Perez said.
The House and Senate Banking Committees
Wells Fargo's Internal Investigation
It has already taken some action. The independent board members on Tuesday said that Stumpf had agreed to give up $41 million in unvested stock awards following the launch of an investigation into the company's sales practices. Carrie Tolstedt, the bank's former head of community banking, agreed to forfeit $19 million in unvested stock awards and will not receive retirement benefits worth millions more. Neither Stumpf nor Tolstedt will receive 2016 bonuses and Stumpf will forgo his salary pending the board's investigation.
The Office of the Comptroller of the Currency
Bill Baer, the No. 3 official at the Justice Department, said Wells violated the Servicemembers Civil Relief Act as many as 413 times through a pattern of unlawful repossessions from 2008 to 2015. Wells has agreed to pay $4 million in restitution to customers and a $20 million fine to the OCC. The investigation began when the bank repossessed a Ford Escape from a soldier who was ready to deploy to Afghanistan.
The Commodity Futures Trading Commission
The order said that between March 2013 and November 2015, "every LTR report submitted by [Wells] failed to meet" relevant reporting requirements, omitting or improperly reporting basic data like the reporting entity identifier, swaption expiration dates and notional values, or whether swaps were puts or calls, among other information.
The State of California
MTA finance manager Patrick McCoy said a "responsibility review" of Wells Fargo Securities had not been completed. The bank had received conditional approval among seven firms for senior management roles. But the revelations of phony account openings changed that.
"Until such time we will not be using Wells Fargo Securities for any future underwritings," McCoy said.