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Carrie Tolstedt, scheduled to be sentenced Friday for her role in the company's phony-accounts scandal, has already paid for her crime and should receive three years probation, her attorneys argue in a sentencing memo. Prosecutors have recommended a year in prison.
September 14
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The FBI, NSA and CISA highlighted the emerging dangers of AI-powered deepfakes in phishing campaigns and cataloged protections companies can deploy.
September 13
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The head of the Consumer Financial Protection Bureau defended the agency and its mortgage rules in particular on the 15th anniversary of the collapse of Lehman Brothers.
September 12
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A district court judge ruled that Congress did not give the Consumer Financial Protection Bureau broad authority to look for discrimination, putting a major dent into the bureau's efforts to apply anti-discrimination principles to non-lending products such as advertising.
September 10
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The deal, approved by a federal judge on Friday, resolves claims alleging that former CEO Tim Sloan and other bank executives made misleading statements to investors, the media and Congress.
September 8
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Fraudsters are leveraging advanced artificial intelligence to impersonate customers and deceive financial institutions, but the industry is fighting back with detection systems.
September 7
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Protesters gathered outside the New York bank's headquarters last week, demanding restitution for what they allege was mismanagement. The bank did not give ground in its response to the demonstration.
September 6
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The settlement resolves allegations dating to 2014 and covers 85 minority employees who alleged they were paid lower wages than their white counterparts and faced retaliation.
September 6
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The Department of Justice is recommending a sentence of 12 months behind bars for Carrie Tolstedt, a former Wells executive who has pleaded guilty to obstructing a bank examination. That's harsher than the recommendation of the U.S. Probation Office.
September 5
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The $100 million-asset bank ran afoul of various regulatory standards, including credit oversight, anti-money-laundering controls and third-party risk management.
September 5
