Wells Fargo & Co NYSEWFC is often considered the shining example of responsible behavior among a group of banking peers that were out of control during the time leading up to the Financial Crisis. However, a new $185 million fraud settlement has Keefe, Bruyette & Woods analyst Brian Kleinhanzl wondering whether Wells Fargo still deserves its reputation for responsible banking.

Wells Fargo’s new settlement with the Consumer Financial Protection Bureau (CFPB), the Office of the Comptroller of the Currency (OCC) and the city of Los Angeles comes in response to charges of fraudulent acts, including opening unauthorized accounts and charging customers unjustified fees.

Wells Fargo reportedly charged fees on 85,000 customer accounts that were opened without authorization. The bank has already refunded about $2 million in fees on these accounts.

According to Kleinhanzl, Wells Fargo’s sluggish stock is…

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