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Wells Fargo's Scandal & Legal ForcesWells_Fargo_Logo_(2020) -…
Wells Fargo's Scandal & Legal Forces
Securities & Exchange Commission (SEC)
Fined Wells Fargo $500 Million for Deceiving Investors About Bank's Success Strategy
Charged former CEO, John Stumpf, for misleading investors regarding the Scandal
Bureau of Consumer Financial Protection (CFPB)
Fined Wells Fargo $185 Million for Illegally Opening Fraudulent Accounts
Investigated the extent to which customers were affected by bank practices of freezing and closing accounts after signs of fraud
Federal Reserve
U.S. Department of Justice (DOJ)
Wells Fargo Agreed to Pay $3 Billion to Settle Criminal Charges and Civil Action for Customer Ill-Treatment
Other Attorneys/Lawyers Involved
U.S. Department of Labor
Office of the Comptroller of the Currency (OCC)
Wells Fargo paid $35 Million to the OCC
OCC Fined Former Executives John G. Stumpf $17.5 Million and Carrie L. Tolstedt is questioning to $25 Million fine. Stumpf was also Banned from the Banking Industry
Two Other Past Executives Settled with the OCC to pay $3.5 Million Combined
Five Other Past Executives are Challenging the OCC's Penalties in Public Hearings
City & County of Los Angeles
Wells Fargo paid $50 million to the City and County of Los Angeles
The City of Los Angeles brought the first Lawsuit against Wells Fargo regarding the matter in 2015
