US regulator plans enforcement actions against former Wells Fargo executives: Source
WASHINGTON (Reuters) - One of Wells Fargo & Co's top regulators plans to bring enforcement actions against as many as 10 former executives in relation to the bank's sales practices scandal as soon as Thursday, a person familiar with the matter told Reuters.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| WFC | WELLS FARGO & CO. | 87.52 | +0.27 | +0.31% |
The Office of the Comptroller of the Currency (OCC) actions may result in monetary penalties against the executives and bans from working for OCC-regulated banks, the person said. Wells Fargo declined to comment. A spokesman for the OCC did not immediately provide comment.
WELLS FARGO PROFIT SINKS 13% WHILE NEW CEO PRIORITIZES RESOLVING REGULATORY ISSUES
(Reporting by Karen Freifeld, Chris Prentice, Peter Schroeder and Imani Moise; editing by Michelle Price and and Jonathan Oatis)