to the products and services the bank offers. The bank paid 185 million in penalties after it was revealed last year that employees opened millions of unauthorized consumer deposit and credit card accounts for years in order to meet aggressive sales goals, a practice the bank said it has since ended. This week, the Office of the Comptroller of the Currency sent a confidential preliminary report to Wells Fargo that criticized the bank for the auto insurance sales practices and how it handled the problem, The New York Times reported Friday. Additionally, Reuters stated that a report from the Office of the Comptroller of the Currency (OCC) criticized the Wall Street bank for forcing numerous borrowers to buy unneeded auto insurance, as well as for its handling of these issues once they were brought to light. The bank has also been accused of improperly forcing thousands.S. Problems at Wells Fargo., which continues to grapple with the fallout from its sales-practices scandal, have extended to its investment bank, prompting the firm to fire with cause four foreign-exchange bankers, according to people familiar with the matter. Noted investor, steve Eisman said Thursday he is betting against Wells Fargo shares due to deep "cultural issues" that will take time to unwind.
About.6 percent of Wells Fargo shares available for trading are sold short, or in anticipation of a decline, according to FactSet. The OCC declined to comment to the Times and did not immediately respond to a cnbc request for comment. A person familiar with the matter told the Journal the same thing. Customers to lock in home interest rates when their mortgage applications were delayed. According to, the Wall Street Journal, the reason for their terminations has not been released. Eisman bet against the housing market ahead of the financial crisis, which was depicted in the movie "The Big Short.". More bad news for, wells Fargo : The financial institution has fired four foreign exchange (Forex) bankers following an investigation into that business by both the bank and regulators. Nevertheless, the CEO is optimistic for the companys future. . "We will continue to work with regulators on the remediation and will make improvements to our auto lending business a bank spokeswoman told the Journal. Wells Fargo confirmed the departures to the Journal and cnbc. The stock is little changed for this year in contrast to the S P 500 financial stocks' 14 percent gain.