Bloomberg Law
Jan. 15, 2021, 6:22 PM

Wells Fargo Ex-General Counsel Fined $3.5 Million in Sales Probe

Hannah Levitt
Hannah Levitt
Bloomberg News

Wells Fargo & Co’s former general counsel James Strother agreed to pay a $3.5 million fine to the U.S. Treasury for his role in the bank’s sales-practices scandal.

Strother also agreed to a cease-and-desist order and to cooperate with federal regulators in investigations of the San Francisco-based bank’s misconduct, the U.S. Office of the Comptroller of the Currency announced Friday in a statement.

“Jim Strother is an honorable man who dedicated over 30 years in the service of Wells Fargo,” Walt Brown, his lawyer at Orrick, said in a statement. “He retired in 2017, and is pleased ...

Learn more about Bloomberg Law or Log In to keep reading:

Learn About Bloomberg Law

AI-powered legal analytics, workflow tools and premium legal & business news.

Already a subscriber?

Log in to keep reading or access research tools.