Investors claimed the bank knew about the fake account issue but failed to disclose it to investors, who considered it material. The bank settled for $480 million. June 2018: SEC fine for leading investors astray The SEC heaped a $4 million fine on Wells Fargo and forced it to repay over $1 million in ill-gotten gains and interest to mom-and-pop investors at Wells Fargo Advisors, the bank's brokerage arm. The bank was encouraging investors to actively trade high-fee debt products that were not supposed to be actively traded. The bank did not admit wrongdoing but made changes in response to the matter. July 2018: Refunds over add-ons like pet insurance and legal services Wells Fargo refunded tens of millions of dollars, according to the Wall Street Journal, after adding services like pet insurance and legal services to consumers' accounts without consumers' "full understanding." The bank stopped add-on products in 2017. Other banks have paid settlements over similar issues.