What’s next for Wells Fargo? Bank, execs still in crosshairs
By 
Kyle Brasseur2020-02-24T20:16:00
Wells Fargo will pay $3 billion to resolve civil and criminal penalties with the DOJ and SEC related to its long-running fake accounts scandal, but the embattled bank—and its former executives—are far from out of the woods.
Related articles
-
ArticleWells Fargo CEO says bank’s past behavior ‘deeply disturbing,’ vows change
Wells Fargo CEO Charlie Scharf, who has led the scandal-plagued megabank for four months, was upfront about the bank’s failure to stem abuses in its banking, lending, and auto insurance divisions when he testified at a Congressional hearing Tuesday.
-
ArticleTwo Wells Fargo board members resign ahead of congressional hearing
Two Wells Fargo board members who were scheduled to testify at a congressional hearing this week in the aftermath of the financial institution’s fake account scandal have resigned.
-
ArticleCongressional report blasts ‘reckless megabank’ Wells Fargo, regulators
A scathing report on Wells Fargo published by the House Financial Services Committee majority tells the story of a recidivist megabank whose senior management and board of directors refuse to take compliance seriously and the unresponsive financial regulators who let it all slide.
More from Regulatory Enforcement
-
ArticleLarge wound care practice pays $45M, agrees to monitoring
One of the largest wound care practices in the nation and its founder have agreed to pay $45 million and be subjected to third-party monitoring, to settle allegations that the business intentionally overbilled Medicare by priming its electronic medical records system to do so.
-
News BriefSEC dismisses SolarWinds case tied to 2020 cyberattack
The dismissal of charges against SolarWinds for alleged cybersecurity lapses related to a 2020 Russian cyberattack in 2020 are the latest in a continuing pattern of leniency for corporations by the Trump administration.
-
PremiumPart Two: FCPA cases closed by DOJ, SEC since January
Since the start of the Trump Administration, the Department of Justice has been winding down a number of Foreign Corrupt Practices Act investigations with little public attention. This second article further explores how and why these FCPA matters have been closed.