Former Wells Fargo executive Tolstedt to pay $3 million SEC penalty
Carrie Tolstedt
The settlement with the SEC follows Carrie Tolstedt's agreement in March to plead guilty to obstructing a problem of the bank's practice of opening accounts for customers without their authorization.
Wells Fargo & Co.’s former head of retail banking, Carrie Tolstedt, agreed to pay $3 million to settle a Securities and Exchange Commission case over misleading investors about a key metric the lender used to gauge success.
The settlement, which is subject to court approval, follows Tolste
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