Ex-Wells Fargo executives set to face civil trial in scandal over phony accounts

Investing.com | Sep 13, 2021 at 3:49 PM
  • The Office of the Comptroller of the Currency (OCC), a top U.S. banking regulator, is scheduled to begin a civil trial on Monday for three former Wells Fargo (NYSE:WFC) & Co executives over their alleged roles in a scandal involving phony accounts at the San Francisco lender.
  • The OCC alleges that Wells Fargo’s former risk officer Claudia Russ Anderson, former chief auditor David Julian and former executive audit director Paul McLinko failed to adequately perform their duties and responsibilities, contributing to Wells Fargo’s “systemic sales practices misconduct” from 2002 to 2016.
  • A spokesman for Wells Fargo did not immediately respond to a request for comment on Sunday.