Crime and misconduct

The Office of the Comptroller of the Currency says JPMorgan Chase’s fiduciary unit lacked sufficient controls to manage risk and avoid conflicts of interest.

Former CEO John Stumpf agreed to pay a $2.5 million penalty to settle civil charges tied to the bank’s fake-accounts scandal. Former community bank head Carrie Tolstedt did not agree to a settlement and is now facing a lawsuit that alleges she committed fraud.

The senior executives, all from the company’s consumer banking unit, agreed to pay six-figure fines in connection with the 2016 unauthorized account scandal.

The company's outgoing CFO discussed ways the asset cap is stunting growth, but provided no updates at an industry conference on when the restriction might be lifted or the types of jobs it will cut.

After an SEC lawsuit, Dan Kamensky now faces criminal charges including securities fraud, extortion and obstruction of justice.

Mary Mack is expected to say that other employees were scared of Carrie Tolstedt, according to the bank’s regulators. Tolstedt, one of five former Wells executives facing civil charges in connection with the bank’s phony-accounts scandal, could be fined as much as $25 million.

The executive shuffle at the company continues as Credit Suisse America’s Paula Dominick is hired to replace Mike Roemer as chief compliance officer. It also hired or promoted four line-of-business chief risk officers and an enterprise testing leader.

Newly released documents highlight the challenges that Carrie Tolstedt and four co-defendants are likely to confront as they face civil charges involving sales misconduct at the bank.

The onetime CFP pleaded guilty to violating his parole after previously avoiding prison time through a plea deal in 2018.

A watchful planner might have saved a matriarch’s IRA from being allegedly pillaged by her son.

The settlement marks the bank’s largest yet from a series of scandals that claimed two chief executive officers.

The former investment advisor, convicted of running one of the biggest Ponzi schemes ever, says he suffers from terminal kidney failure and other ailments.

Edward E. Matthes allegedly renovated his home, paid child support and bought luxury items with client money.

He used client funds money to pay for massages, jewelry and to shore up his wife's failing pet store.

He used investor money for his $6.7 million home and $3.1 million for chartering planes and personal travel, according to prosecutors.

At this stage it's not an actual data breach, but it could become one.

PR campaigns won’t be enough to salvage the bank’s reputation after a series of scandals. Instead, it should look into adopting a new name, among other crucial steps.

The bank's decision to select its general counsel as successor to Tim Sloan, albeit on a temporary basis, focused attention on its frayed relationships with the Federal Reserve and the OCC.

The chairwoman of the House Financial Services Committee said Tim Sloan's resignation as CEO was "long overdue" but that other executives and directors should be removed as well.

Tim Sloan couldn't hang on any longer. Here are insights about why he left now, what role policymakers played in the decision and will continue to have in the company's future, and who in the world would want to lead Wells Fargo.