Ex-Wells Fargo Executives Face $59 Million in Fines

The video discusses the unprecedented fines and bans imposed on Wells Fargo executives due to a major scandal. The former CEO and other senior executives face significant penalties, with the OCC leading the regulatory actions. The Federal Reserve has also restricted the bank's growth. New CEO Charlie Scharf is addressing the issues, but challenges remain for Wells Fargo.

What was the fine imposed on the former CEO of Wells Fargo?

• $25 million

• $30 million

• $17.5 million

• $10 million

Which regulatory body took the lead in imposing fines on Wells Fargo?

• Federal Reserve

• Securities and Exchange Commission

• Office of the Comptroller of the Currency

• Consumer Financial Protection Bureau

What was the role of the Federal Reserve in the Wells Fargo scandal?

• Banned the CEO

• Put a cap on growth

• Imposed a fine

• Issued a public statement

Who is the new CEO of Wells Fargo?

• Charlie Scharf

• Lynnanne Nguyen

• Tim Sloan

• John Stumpf

What action did the new CEO take regarding the compensation of implicated executives?

• Promoted them

• Transferred them to other departments

• Withheld their compensation

• Increased their compensation