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- 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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News and analysis for the well-informed compliance or audit exec.
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Our lowest price ($1 per day) for one year.
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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.
2020-02-21T21:55:00Z By Jaclyn Jaeger
The Department of Justice and Securities and Exchange Commission on Friday assessed total civil and criminal penalties of $3 billion against Wells Fargo & Co. and its subsidiary, Wells Fargo Bank, in the aftermath of its fake account scandal.
2024-07-26T19:18:00Z By Jeff Dale
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
2024-07-26T15:51:00Z By Aaron Nicodemus
The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
2024-07-26T13:36:00Z By Adrianne Appel
Admera Health agreed to pay more than $5.5 million to resolve allegations first brought by two whistleblowers that it paid kickbacks to third-party contractors, the Department of Justice said.
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