Tagged: Sales misconduct

Carrie Tolstedt, former Wells Fargo Community Banking Head, Agrees to Plead Guilty and Pay a $17 Million Fine for Obstruction of Regulator’s Investigation

If there ever is an example of a rotten corporate culture, Wells Fargo sits at the head of the class.  Since Wells Fargo’s sales pressure scandal, Wells Fargo has continued to suffer from a string of scandals and misconduct.  Along the way, and notwithstanding spending millions on lawyers, consultants, accountants and other professionals to fix its culture and controls, Wells Fargo still has not recovered. ...

Wells Fargo Settles With Justice Department for $3 Billion

This year, 2020, has been an enforcement year opening with billion-dollar settlements: first, Airbus settled FCPA charges for $4 billion, and now Wells Fargo for $3 billion.  What a start to an enforcement year! We all have heard about the Wells Fargo debacle, and I have written repeatedly about Wells Fargo’s blatant misconduct.  Wells Fargo has defined itself as a company lead by rotten senior...