Whistleblower

The accusations shed light on the massive back-office systems maintained by regulators and the difficulty of keeping the sensitive information in them private.

The beleaguered bank is reported to have been ordered by the Justice Department in late 2017 to conduct an independent investigation of the business.

Wells may have settled with former employee Claudia Ponce de Leon because it wanted to avoid the "massive exposure" of a jury trial, an expert says. It is unclear how the agreement will affect Wells’ other cases.

Jurors in New York federal court awarded Jennifer Sharkey $563,000 in back pay and $563,000 for emotional damage.

The mishandling of the two former employees’ complaints, detailed in documents and by former OSHA officials, raises questions about the government’s treatment of whistleblowers throughout the financial services industry.

The agency plans to split the award between just two people who reported the bank’s product-pushing tactics.

The regulator now has punished just one known person associated with the bank's admitted nationwide fiduciary violation: the RIA who flagged abuses.

Payment of back wages is ordered as well as reinstatement. A second reinstatement may also be in the works, Financial Planning has learned.

Organization takes the case "to put a spotlight on a bank that may have engaged in misconduct more significant than Wells Fargo's."

OSHA supports ex-broker Johnny Burris’ firing because he allegedly faked company letterhead. Burris says the bank approved the altered letter years before.