SEC subpoenas Wells Fargo in fraud investigation

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The US Securities and Exchange Commission (SEC) announced on March 23 that it has filed a subpoena against Wells Fargo for failing to produce documentation relating to a fraud investigation concerning Wells Fargo's sale of $60 billion in residential mortgage-backed securities. The subpoena, filed in the US District Court for the Northern District of California, follows previous requests for evidence dating back to September 2011. Wells Fargo had agreed to produce materials relating to due dil