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Wells Fargo ordered to pay $35 million by OCC for unsafe, unsound sales practices

( September 8, 2016, 16:47 GMT | Official Statement) -- MLex Summary: The Office of the Comptroller of the Currency on Thursday assessed a $35 million civil money penalty against Wells Fargo Bank and ordered it to make restitution to customers who were harmed by its unsafe or unsound sales practices. The sales practices the OCC found to be unsafe or unsound included the unauthorized opening of deposit or credit card accounts and the transfer of funds from authorized, existing accounts to unauthorized accounts.Statement follows in full. Also see document below. ...

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