DOJ May Be Retaliating By Targeting Wells Fargo Executive

Wells Fargo & Co (NYSE:WFC) said the U.S. Department of Justice might have added its executive as a defendant in retaliation for the bank bringing settlement talks to an end. Wells Fargo & Co (NYSE:WFC) questioned in a court filing the Department of Justice’s motives in a federal court motion to add its employee Kurt Lofrano as a defendant. Wells Fargo facing federal investigation As reported earlier, Wells Fargo & Co (NYSE:WFC) is facing a federal investigation related to the sales of mortgage-backed securities. People familiar with the situation said authorities are investigating whether the bank violated the Financial Institution Reform…