- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Wells Fargo will pay millions to resolve issues with its auto loan customers who were harmed due to issues related to collateral protection insurance policies.
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When investors decry the black box of public company auditing, asking for more visibility, they’re referring to cases like KPMG’s audit work at Wells Fargo.
A Wells Fargo subsidiary will pay nearly $3 million to settle allegations that it failed to properly supervise an employee attempting to sell unsuitable investment products to retail investors–the fifth time it has been penalized for similar supervisory failings since 2020.
The Treasury Department’s Office of the Comptroller of the Currency ordered Wells Fargo to make “comprehensive corrective actions” to its Bank Secrecy Act/anti-money laundering and U.S. sanctions programs, along with receive permission from the OCC to offer new products and services or enter new geographic markets with “medium or high” ...
