Wells Fargo fires over 100 employees for COVID-19 relief fund misuse: source

The bank believes some of its staffers made "false representations in applying for coronavirus relief funds for themselves", defrauding the U.S. Small Business Administration, David Galloreese, head of Human Resources, said in an internal memo seen by Reuters.The abuse was tied to the Economic Injury Disaster Loan program and outside the employees' roles at the bank, the memo said, adding Wells Fargo will cooperate fully with law enforcement.