By Kyle Brasseur2023-09-18T15:46:00
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.
Carrie Tolstedt was sentenced Friday to three years of probation and six months of home confinement. She must also pay a $100,000 fine. Her sentencing was handed down by U.S. District Judge Josephine Staton for the Central District of California.
Tolstedt pleaded guilty in March to obstructing an examination by the Treasury Department’s Office of the Comptroller of the Currency (OCC) into the bank’s sales practices misconduct. The OCC separately fined her $17 million for her actions and banned her from the banking industry.
2024-08-02T19:00:00Z By Aaron Nicodemus
Wells Fargo disclosed in a public filing its anti-money laundering and sanctions programs are under investigation, adding to the already long list of compliance issues plaguing the bank.
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.
2023-03-16T15:36:00Z By Aaron Nicodemus
Carrie Tolstedt, 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 for her role in the bank’s fake accounts scandal.
2025-08-21T18:58:00Z By Oscar Gonzalez
The Federal Trade Commission filed a complaint against LA Fitness’ parent companies, citing difficulties canceling memberships, a month after a court blocked the agency’s click-to-cancel rule.
2025-08-20T21:22:00Z By Adrianne Appel
CVS’s Caremark division knowingly overcharged Medicare for prescription drugs and must pay nearly $290 million, a Pennsylvania federal judge has ordered.
2025-08-18T14:12:00Z By Oscar Gonzalez
The owner of a water machine vending company and a portfolio manager were allegedly behind a Ponzi-like scheme that raised more than $275 million, according to the U.S. Securities and Exchange Commission.
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