Follow TopicFollow Contributor Share Feedback
Judge Recommends $18.5m in Fines for 3 ex-Wells Fargo Execs

Judge Recommends $18.5m in Fines for 3 ex-Wells Fargo Execs

by Starling Insights

Starling Insights Editorial Board

Dec 16, 2022


In a decision last week, US Judge Christopher McNeil recommended that the Office of the Comptroller of the Currency (OCC) fine three former Wells Fargo executives $18.5 million for their roles in the bank's fake-accounts scandal.

According to McNeil, who serves as the in-house judge at the OCC, the executives "separately and collectively engaged in unsafe or unsound banking practices by individually failing to identify and effectively address inadequate controls over known issues of risks related to sales goals pressure in the Community Bank." In so doing, they intentionally avoided escalating concerns and misled regulators "regarding the efficacy of controls over risks related to sales goals pressure," he wrote.

This content is available to paid Members of Starling Insights.

If you are a Member of Starling Insights, you can sign in below to access this item. 


If you are not a member, please consider joining Starling Insights to support our work and get access to our entire platform.  Enjoy hundreds of articles and related content from past editions of the Compendium, special video and print reports, as well as Starling's observations and comments on current issues in culture & conduct risk management.

Join The Discussion

See something that doesn't look quite right?

We strive to provide high quality and accurate content at all times. With that said, we realize that sometimes links break, new information becomes available, or there is something that you feel we may have missed.

If you see something that you think we should be aware of, we would love to hear from you. Feel free to drop us a note below and leave your name and contact info if you'd like to hear back from us.

Thank you for being a key part of the Starling Insights community!