OCC slaps serious sanctions on Wells Fargo as fake account fallout continues

On Friday evening, the Office of the Comptroller of the Currency slapped a series of sanctions on Wells Fargo that were previously excluded from its settlement with the megabank over the fake account scandal that recently shrouded the bank in controversy. Chief among those sanctions is that the bank is now required to ask the OCC for approval if it wants to make a change to its board of directors or its senior executive officers.



Source link