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.
2025-09-12T19:40:00Z By Oscar Gonzalez
The DOJ sued Uber Thursday, alleging it violated the Americans with Disabilities Act (ADA) by denying people with disabilities equal access to its services.
2025-09-11T20:53:00Z By Neil Hodge
Europe’s banking regulator warns that weak compliance at fintech, regtech, and crypto firms may let money laundering and terrorist financing risks slip through. The EBA also found EU regulators’ approaches are often inconsistent and unclear.
2025-09-10T22:24:00Z By Adrianne Appel
California, Colorado, and Connecticut launched a joint enforcement sweep against businesses that fail to honor consumers’ online opt-out requests, the states announced Tuesday.
Site powered by Webvision Cloud