Sarge986 Stephen Guilfoyle discusses Wells Fargo CEO Tim Sloan’s testimony on Capitol Hill.
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.
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| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| WFC | WELLS FARGO & COMPANY | 48.33 | -0.23 | -0.48% |
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)
