US Regulator Fines Ex-Wells Fargo CEO $17.5 Mn Over Fake Accounts

US banking regulators on Thursday fined ex-Wells Fargo Chief Executive John Stumpf $17.5 million over the bank's 2016 fake accounts scandal, blaming Stumpf and other top former executives for the debacle

New York, (APP - UrduPoint / Pakistan Point News - 23rd Jan, 2020 ):US banking regulators on Thursday fined ex-Wells Fargo Chief Executive John Stumpf $17.5 million over the bank's 2016 fake accounts scandal, blaming Stumpf and other top former executives for the debacle.

The Office of Comptroller of the Currency settled with Stumpf and two other former executives, while announcing charges against five other former officials whose poor work performance allegedly "contributed to the bank's systemic problems," the agency said.