I posted in another thread but decided that I didn’t want this to get lost:
Why has Tolstedt escaped punishment?? If I’m wrong, please set me straight because I’m tired of raging thinking she got away scot free. She’s a major reason why we are where we are.
If you google her name and "OCC" afterwards, you'll see that the OCC filed charges and she is fighting them. The trial is scheduled for the middle of next year.
Some of the execs responsible for this accepted a settlement with OCC, paid fines and have various restrictions on whether/how they can work in financial services (for example, CT's CFO is banned for life and paid the fines in return for no further charges) . Others (not just CT) are fighting.
@1tcz
LMAO You triggered Fooltard, name one any of them broke that's worthy of jail time. Hell, name one law they broke period.
I won't bother waiting as there will be a blizzard in hell before you can.
Tolstedt, Stumpf, Sloan, Loughlin, and their minions who carried this out are sitting around at Mike's Napa ranch eating peaches laughing their asses off at WF and how many millions they each s—ed out of this company for so many years.
Schart and his all white male JPM cronies are doing the same thing now out in the Hamptons.
Thank you @1z1
She did get some pay clawed back, and she was retroactively fired for cause.
She is facing civil charges in connection with the phony-accounts scandal, and "could be" fined as much as $25 million
From businessinsurance.com:
The Department of Justice is investigating Carrie Tolstedt, who ran the bank's retail and small business lending business from 2007 to 2016, the sources said. The criminal inquiry into Ms. Tolstedt’s actions has not been previously reported.
The development marks a rare instance of a senior bank executive facing criminal inquiry as a result of their job.
Soooo......she hasn't been let entirely of the hook. The entire article is interesting. Just Google and it will come up.
She did not take a plea like everyone else did, she is fighting this. Her trial in supposed to start next spring. I hope all her assets are in WFC stock