Court rules against Well Fargo in tax-credit case

Court rules against Well Fargo in tax-credit case

A federal court has ruled that Wells Fargo & Co. is liable for a negligence penalty in a tax case that involved foreign tax credits, but the bank prevailed in another part of the case that could mute any payment. The case involves Structured Trust Advantaged Repackaged Securities, or STARS. In other developments, Wells Fargo will increase recruitment bonuses to financial advisers after competitors announced plans to cut back on such payments. Wells Fargo Advisors will hike recruiting offers by as much as 50%, according to individuals briefed on the changes.

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