- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jaclyn Jaeger2020-03-11T20:17:00
Elizabeth Duke and James Quigley remained unwavering about accepting any sort of accountability in their oversight roles as former board members of Wells Fargo at a tense Congressional hearing Wednesday.
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Wells Fargo is now operating under a different regime, but what have the billions of dollars the bank has spent in attending to the compliance failures that arose out of its fake account scandal delivered? Not enough, posits Martin Woods.
Still trying to polish its tarnished reputation, Wells Fargo announced the appointment of two new corporate risk leaders and an enhanced organizational structure “designed to provide greater oversight of all risk-taking activities.”
An asset cap imposed on Wells Fargo in response to systemic failures at the bank in recent years has been temporarily modified to reduce limitations on its ability to distribute loans amid the coronavirus pandemic.
Companies spend huge sums on audit, risk management, and compliance to alert them about potential legal issues before they escalate into serious corporate governance failings. There’s only one problem, however–they often misread their own early warning signs or ignore them altogether.
Company training has always been equal parts important and annoying. But a recent inquest found some eLearning courses fail to warn companies when employees struggle through education and testing. For 13-year-old Hannah Jacobs, the consequences ended with her death.
Norfolk Southern Corp., the railroad still cleaning up the environmental and financial damages caused when one of its trains derailed in a small Ohio town, has fired its top executive and chief legal officer after concluding they had an affair that violated company policies.
