Wells Fargo scandal: US bank regulator fines three former executives over fake accounts
The trio had been previously charged by the OCC in 2020, alongside other former senior leadership of the bank, but had opted not to settle.
3 ex-Wells Fargo execs fined $18.5M over fake-accounts scandal
The Office of the Comptroller of the Currency banned the bank’s former community bank group risk officer for life, among other penalties handed down Tuesday.
3 former Wells Fargo execs ordered to pay over $18 million in fake sales account scandal
Three former Wells Fargo executives must pay $18.5 million for their role in the bank’s widespread fake sales accounts scandal that came to light nearly a decade ago.
OCC Fines 3 Wells Execs $18.5M over Fake-Accounts Scandal
According to the OCC's announcement, from 2013 to 2016 Anderson "failed to credibly challenge the bank's incentive compensation program, failed to institute effective controls to manage risks posed by sales practices misconduct, failed to escalate known or obvious risks, and repeatedly and consistently downplayed the sales practices misconduct."
Wells Fargo ex-exec appeals $1.5M fine, OCC enforcement order
Paul McLinko served as the bank’s executive audit director during its 2016 fake-accounts scandal. He called the penalty “arbitrary, capricious, an abuse of discretion, and otherwise not in accordance with law.
Three more former Wells Fargo execs fined for sales practices scandal
Bank regulators say a new round of fines is the final enforcement action against former Wells Fargo executives after the sales practices scandal that came to light in 2016.
Veteran trader reworks Wells Fargo stock price target after earnings
Scharf noted that this was the sixth consent order regulators had terminated since he joined Wells Fargo in 2019. "Our ...
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Wells Fargo seeks dismissal of fraud claims linked to fake job interviews
Wells Fargo said there is no proof that its officers acted with intent to defraud or mislead in statements to the public or ...