Ex-Wells Fargo Executive Appeals $1.5 Million OCC Penalty (1)

A former Wells Fargo & Co. executive asked a federal appeals court to review a $1.5 million penalty from the Office of the Comptroller of the Currency over his role in the fake-account scandal that roiled the bank.

The OCC’s penalty announced this week was “infected by multiple prejudicial evidentiary and procedural errors,” Paul McLinko, Wells Fargo’s former executive audit director, said in a Jan. 15 court filing asking the US Court of Appeals for the D.C. Circuit to review the enforcement action.

The OCC penalty came after the statute of limitations for his alleged wrongdoing expired, McLinko added.

The ...