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Podcast: Corruption Crime & Compliance
Episode: Episode 127 -- Deep Dive into the Office of the Comptroller of Currency's Enforcement Action Against Former Wells Fargo Executives
Description:
In a comprehensive enforcement action, the Office of the Comptroller of Currency (OCC) announced a $17.5 million settlement with former Wells Fargo Bank CEO John Stumpf for his role in the sales practices misconduct scandal. In addition, the OCC announced settlements with two other Wells Fargo executives: (1) Hope Hardison, former Chief Administrative Officer and Director of Human Resources, Cease and Desist Order and $2.25 million civil money penalty; and (2) Michael Loughlin, Chief Risk Officer, Cease and Desist Order and $1.25 million civil money order.
In addition to the specific settlements, the OCC initiated penalty n...