Wells Fargo is a cheap stock, but investors should wait until next Tuesday’s Senate hearing before making a move in it, says TheStreet’s Jim Cramer. The San Francisco-based bank is being investigated by federal prosecutors over illegal account openings that led to the company being fined last week. The Consumer Financial Protection Bureau issued a $185 million fine against Wells Fargo over its sales practices. The company cut 5,300 employees related to the deceptive account openings. Now, the U.S. Attorney’s Office for the Southern District of New York and the Northern District of California is investigating the matter. The prosecutors have not yet decided whether to pursue a criminal or civil case.
Subscribe to TheStreetTV on YouTube:
For more content from TheStreet visit:
Check out all our videos:
Follow TheStreet on Twitter:
Like TheStreet on Facebook:
Follow TheStreet on LinkedIn:
Follow TheStreet on Google+:
source
