- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-03-16T15:36:00
The former head of Wells Fargo’s community bank will pay a $17 million fine issued by the Office of the Comptroller of the Currency (OCC) for her role in the bank’s fake accounts scandal.
The OCC’s order found Carrie Tolstedt “was significantly responsible for the systemic sales practices misconduct at the bank” and that the bank’s business model “imposed unreasonable sales goals on its employees, along with unreasonable pressure to meet such goals.”
Tolstedt agreed to pay the fine Jan. 19, but OCC Senior Deputy Comptroller Gregory Coleman didn’t sign off on the order until March 9. The OCC published the order in a press release Wednesday.
2023-09-18T15:46:00Z By Kyle Brasseur
Carrie Tolstedt, the former head of Wells Fargo’s community bank who pleaded guilty to obstructing justice regarding her role in the bank’s infamous fake accounts scandal, will not serve prison time.
2023-05-31T17:55:00Z By Aaron Nicodemus
Carrie Tolstedt, the former head of Wells Fargo’s community bank, agreed to pay nearly $5 million to settle charges levied by the Securities and Exchange Commission related to the bank’s fake account scandal.
2023-05-18T18:17:00Z By Aaron Nicodemus
Wells Fargo agreed to pay $1 billion to settle a class-action lawsuit filed by shareholders who claimed the bank overstated its progress in complying with regulatory orders related to its 2016 fake accounts scandal.
2025-07-02T18:31:00Z By Aaron Nicodemus
Emerging enforcement priorities of the U.S. Department of Justice’s health care fraud division align with the Trump administration’s emphasis on prosecuting transnational criminal organizations and ending opioid trafficking.
2025-07-01T23:26:00Z By Oscar Gonzalez
Since President Donald Trump took office, the U.S. Federal Trade Commission has yet to keep up the level of enforcement it had under previous chair Lina Khan. The agency, however, returned to antitrust action in the case of fuel stations, just in time for the July 4th holiday.
2025-06-25T16:29:00Z By Oscar Gonzalez
In May, three commissioners for the Consumer Product Safety Commission were abruptly fired by President Donald Trump and sued for their jobs shortly after. A federal judge has ruled that the commissioners should be reinstated, although it’s unclear whether that ruling may itself be reversed.
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