© Reuters. FILE PHOTO: Folks exit and enter Wells Fargo ATM within the Manhattan borough of New York, October 10, 2015. REUTERS/Eduardo Munoz
(Reuters) – Wells Fargo (NYSE:) & Co stated on Tuesday U.S. authorities companies, together with the Division of Labor, are reviewing sure transactions within the financial institution’s 401(okay) plan.
The fourth-largest U.S. financial institution stated in a submitting that federal authorities companies “are reviewing sure transactions related to the worker inventory possession plan function of the corporate’s 401(okay) plan, together with the style through which the 401(okay) plan bought sure securities utilized in reference to the corporate’s contributions to the 401(okay) plan.”
401(okay) plans are retirement packages supplied by American corporations to their staff.
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