Justice Department investigating Wells Fargo

The U.S. Just Department launched an investigation into Wells Fargo's improper sales tactics, a person familiar with the matter told the Los Angeles Times.

Federal prosecutors in San Francisco and New York are forming an investigation that could lead to criminal or civil charges, the person said. Bank officials declined to comment on the investigation.

The San Francisco bank last week agreed to pay $185 million to settle allegations that thousands of its employees opened millions of fake accounts to meet sales goals.

Read more from the Los Angeles Times.