Wells Fargo Ex-GC Fined $3.5M In OCC Settlement

Law360 (January 15, 2021, 12:36 PM EST) -- The Office of the Comptroller of the Currency said Friday it has fined Wells Fargo's former general counsel $3.5 million as part of a settlement resolving the agency's claims against him over his alleged role in the banking giant's sales practices scandal.

James Strother, who retired from Wells Fargo in 2017, agreed to the fine as well as a cease-and-desist order from the OCC, which filed a notice of charges against him and several other former Wells Fargo executives in January 2020.

Strother did not admit or deny any OCC allegations as part of the settlement, but agreed to fully cooperate...

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