Former Wells Fargo execs, OCC set to square off at fake-accounts trial
Three former high-level Wells Fargo executives who face the possibility of massive financial penalties in connection with the bank’s unauthorized-accounts scandal are scheduled to go on trial this month.
Barring a last-minute settlement, the administrative law hearing in Sioux Falls, South Dakota, will be a rare public face-off between regulators and big-bank executives. The list of potential trial witnesses is a who’s who of prominent names from the fake-accounts debacle, including former Wells Fargo CEOs John Stumpf and Tim Sloan.
Examiners at the Office of the Comptroller of the Currency, which brought the charges in January 2020, are also expected to testify.