- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
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.
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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.
2025-05-22T14:37:00Z By Aaron Nicodemus
The Federal Trade Commission has ordered web hosting company GoDaddy to implement a “robust” information security program following at least three data breaches that the agency said were aided by lax cybersecurity measures.
2025-05-20T12:30:00Z By Oscar Gonzalez
The U.S. Federal Trade Commission (FTC) took action against a pair of student loan debt relief companies for allegedly deceiving borrowers. The move came despite the Trump administration’s broader efforts to roll back enforcement actions against businesses since taking office.
2025-05-16T19:24:00Z By Oscar Gonzalez
After dismissing its lawsuit against the crypto exchange Coinbase in March, a second investigation into the exchange by the Securities and Exchange Commission has surfaced, according to a report from the New York Times. This comes as a bit of a surprise after the Trump administration has been scaling down ...
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