All Wells Fargo articles – Page 5

  • RainingCash
    Blog post

    Wells Fargo CEO forfeits $41M; DOL launches labor law investigations


    The latest developments in the ongoing Wells Fargo scandal: clawbacks, including a $41M hit for CEO John Stumpf; a Department of Labor investigation; and a new class-action lawsuit. Joe Mont has more.

  • Blog post

    All is not well at Wells


    Stephen Davis and Jon Lukomnik examine the fallout from the Wells Fargo scandal, delving into what could have been done better by management and offering some tips for other companies, read: banks, to avoid the same fate.

  • Article

    The many compliance lessons of Wells Fargo


    What should compliance officers take away from Wells Fargo employees secretly opening unauthorized deposit and credit card accounts for their customers? Joe Mont looks at the important lessons.

  • Blog post

    The (non) myth of the 5,300 rogue employees


    The Man From FCPA, Tom Fox, asks why it is always the employee’s fault when a corporation engages in fraudulent activity leading to regulatory fallout. Perhaps the CEO of Wells Fargo, responsible for the firing of 5,300 “rogue” employees for fraudulent activity, has the answer.

  • Blog post

    Senators will grill Wells Fargo CEO about illegal accounts


    Wells Fargo executives will testify before Congress this week amid revelations that employees opened unauthorized deposit and credit card accounts in their pursuit of sales targets and bonuses. Joe Mont reports.

  • Blog post

    Internal controls: trust but verify


    Tom Fox looks at the recent scandal at Wells Fargo leading to the Consumer Finance Protection Board’s $185 fine and the firing of more than 5,000 employees after basically telling them: “It’s OK to break the law, as long as we make money.”