OCC to Hold Hearing on Charges Against Former Wells Fargo Bank, N.A. Executives; Agency Seeks Prohibition Order, Orders to Cease and Desist, and Civil Money Penalties — 2021-09-10

WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced a public hearing before an Administrative Law Judge beginning Monday, September 13, 2021, in Sioux Falls, S.D. The OCC will litigate enforcement actions against Claudia Russ Anderson, former Community Bank Group Risk Officer, David Julian, former Chief Auditor, and Paul McLinko, former Executive Audit Director of Wells Fargo Bank, N.A., Sioux Falls, S.D. This hearing represents the culmination of the OCC’s longstanding efforts to hold these individuals accountable for material failures in risk management and for consumer harm. The OCC’s notice of charges alleges Ms. Russ Anderson, Mr. Julian, and Mr. McLinko failed to adequately perform their duties and responsibilities, which contributed to Wells Fargo’s systemic sales practices misconduct problem that lasted until October 2016.