Relevant:
- Wells Fargo Settles Fake-Account Lawsuit for $110 Million
- Bank oversight office failed to spot foreclosure fraud, Treasury says
- Bank oversight office failed to spot foreclosure fraud, Treasury says
- Bank oversight office failed to spot foreclosure fraud, Treasury says
- Bank oversight office failed to spot foreclosure fraud, Treasury says
2017-04-19 — latimes.com
The Office of the Comptroller of the Currency said its oversight of the San Francisco bank was lax, and examiners missed numerous opportunities to address the wrongdoing prior to a $185-million settlement with Wells Fargo in 2016, according to a report released Wednesday.
...
The 15-page document noted that problems with the bank's sales practices had been mentioned in OCC reports since at least 2010 and the bank had been warned about its handling of complaints as early as 2009.
OCC bank examiners also didn't seek to understand the root causes of those or other problems, which allowed them to fester, according to the report.
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