- Topics
- Regions
- Events
- Webcasts
- Resources
- CW Exclusives
- Membership
“For tracking litigation, enforcement, and regulatory developments, Compliance Week
should be your prime source.”- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Wells Fargo in resolution negotiations regarding potential OFAC violations
By 
Kyle Brasseur2022-05-05T17:45:00
Wells Fargo disclosed in a regulatory filing it has entered resolution discussions with a U.S. authority or authorities regarding potential sanctions violations it voluntarily self-disclosed to the Treasury Department’s Office of Foreign Assets Control.
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
News BriefWells Fargo fined $98M for facilitating sanctions violations in Iran, Syria, Sudan
Wells Fargo will pay nearly $98 million to settle charges a subsidiary facilitated more than $532 million worth of prohibited transactions in violation of sanctions against Iran, Syria, and Sudan.
-
ArticleWells Fargo ordered to pay ex-manager $22M in SOX whistleblower case
Wells Fargo must pay more than $22 million to a former senior banking executive who alleged to the Occupational Safety and Health Administration they were retaliated against for blowing the whistle on financial misconduct.
-
ArticleAmerican Express to pay $430K for violations of sanctions against drug kingpin
A subsidiary of American Express agreed to pay $430,500 to settle charges its network processed 214 transactions on behalf of a Venezuelan drug kingpin who was designated on the U.S. sanctions list, according to the Office of Foreign Assets Control.
More from Regulatory Enforcement
-
News BriefSEC fines LPL Financial $18M for failed due diligence on new, high-risk accounts
Broker-dealer LPL Financial will pay $18 million to settle charges by the Securities and Exchange Commission that its anti-money laundering program did not properly vet customers and failed to close or restrict thousands of high-risk accounts.
-
News BriefAmex to pay $230M in penalties to resolve charges it deceived customers, banking partner
American Express will pay approximately $230 million in fines and penalties to settle allegations that it deceptively marketed credit card and wire transfer products, and also misrepresented the tax benefits of two payroll wire transfer products.
-
News BriefSEC fines Wells Fargo $35M, Merrill Lynch $25M over improper cash sweeps
Wells Fargo and Merrill Lynch will pay $35 million and $25 million, respectively, to settle allegations by the Securities and Exchange Commission that their handling of investment accounts’ cash sweep programs violated federal law.