Dallas - Fort Worth Chapter
Chamberlain's Steak and Chop House
Top Takeaways for In-House Counsel from the Wells Fargo Account Opening Inquiry
On September 8, 2016, the alleged misconduct relating to fraudulent account practices at Wells Fargo was revealed when the Consumer Financial Protection Bureau, the Los Angeles City Attorney, and the Office of the Comptroller of the Currency announced that the bank had been fined $185 million as a result of more than 2 million accounts being applied for or opened without customers' consent. Since that time, more than a dozen additional probes have been disclosed, including inquires by the DOJ and SEC, and numerous class action lawsuits have been filed.
This program will provide an overview of the Wells Fargo account probe and discuss tips from litigation, compliance, and governance perspectives that can provide in-house counsel with the tools to identify, report, and ultimately prevent widespread breakdowns that can lead to catastrophic consequence.
Credits: 1.0 hour