Russ Anderson, David Julian, and Paul McLinko are part of a group of former Wells Fargo executives who have faced enforcement actions in connection with the sales practices scandal. Many other individuals involved in the scandal have already settled with the OCC. For example, former CEO John Stumpf reached a settlement in 2020, agreeing to pay a $17.5 million fine. Additionally, former general counsel James Strother reached a settlement in 2023, paying a $3.5 million fine.
One of the most high-profile cases related to the scandal involved Carrie Tolstedt, the former head of Wells Fargo’s retail banking division. Tolstedt pleaded guilty to obstruction charges in 2023 and received a sentence that included six months of home confinement, three years of probation, a $100,000 fine, and 120 hours of community service. Tolstedt is the only former Wells Fargo executive to face criminal charges in connection with the fake accounts scandal.
Despite the penalties, Wells Fargo has not yet responded to requests for comment regarding the recent OCC fines. Efforts to reach Julian, McLinko, and Anderson were also unsuccessful.
