Why Wells Fargo Stock Wilted on Wednesday
A popular payment system offered by Wells Fargo (NYSE: WFC) came under some legal fire on Wednesday, and more than a few investors scuttled out of the bank. This left the lender's stock with a 2% loss on the day, during an otherwise generally upbeat session in which the S&P 500 index bumped 0.3% higher.
That flame was lit by New York Attorney General Letitia James, who has brought a lawsuit against the popular Zelle payment service. The suit accuses Zelle of falling short in efforts to protect its many users from fraud.
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Source Fool.com
