January 23, 2020 / 5:12 PM / a month ago

U.S. regulator plans enforcement actions against former Wells Fargo executives - source

WASHINGTON, Jan 23 (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.

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. (Reporting by Karen Freifeld, Chris Prentice, Peter Schroeder and Imani Moise; editing by Michelle Price and and Jonathan Oatis)

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