April 26, 2018 / 4:14 PM / 5 months ago

Wells Fargo's 401(k) practices being examined by Labor Dept- WSJ

April 26 (Reuters) - The Labor Department is examining whether Wells Fargo & Co pushed participants in low-cost corporate 401(k) plans to roll their holdings into more expensive individual retirement accounts at the bank, according to a person familiar with the inquiry the Wall Street Journal reported on Thursday.

Labor Department investigators are also examining whether Well Fargo's retirement-plan services unit pressed account holders to buy in-house funds, the WSJ reported on.wsj.com/2HsEVgq.

Wells Fargo was not immediately available for a comment.

Reporting By Aparajita Saxena in Bengaluru

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