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Recent Selected Litigated Enforcement Actions

The OCC begins administrative litigation with the issuance of a Notice of Charges (Notice) served on a respondent.  See 12 CFR 19.18.  

Administrative litigation can proceed through discovery, motions practice, and hearing, presided over by an Administrative Law Judge (ALJ) for the Office of Financial Institution Adjudication (OFIA).  The ALJ issues a recommended decision to the Comptroller. Before the Comptroller issues a final decision, the Parties can file exceptions to the recommended decision.

Find below timelines of selected events for certain litigated enforcement actions. The timelines are in reverse chronological order.

Wells Fargo Bank N.A., Sioux Falls, SD Sales Practices Litigation

The OCC issued a Notice against five former senior executives of Wells Fargo Bank N.A. on January 23, 2020. The Notice includes allegations concerning the bank’s sales practices. Below is a timeline of the administrative litigation, followed by settlements with certain other individuals.

  • 4/14/2023 – Parties filed exceptions to Recommended Decision with Acting Comptroller of the Currency.
  • 3/15/2023 – OCC announced settlement with Former Head of the Community Bank Carrie Tolstedt (AA-EC-2019-82): Prohibition Order and $17,000,000 Civil Money Penalty (CMP) (Order, OCC News Release 2023–24).
  • 12/23/2022 – Redacted Recommended Decision as to Claudia Russ Anderson.
  • 12/23/2022 – Redacted Recommended Decision as to David Julian.
  • 12/23/2022 – Redacted Recommended Decision as to Paul McLinko.
  • 12/05/2022 – Public Executive Summary of recommended decisions issued by Administrative Law Judge Christopher McNeil
  • 6/22/2022 – Post-Hearing Reply Briefs filed by Parties.
  • 5/23/2022 – Post-Hearing proposed findings and conclusions filed by Parties.
  • 1/06/2022 – Public Hearing concluded in Sioux Falls, SD.
  • 9/13/2021 – Public Hearing commenced in Sioux Falls, SD (OCC News Release 2021-96).
  • 1/15/2021 – OCC announced settlement with Former General Counsel James Strother (AA-EC-2019-70): Personal Cease and Desist Order and $3,500,000 CMP (Order, OCC News Release 2021–10).
  • 1/23/2020 – OCC Issued Notice With OFIA Against Five Former Senior Wells Fargo Bank Executives (Notice, OCC News Release 2020–6). The OCC sought:
    • Former Head of the Community Bank Carrie Tolstedt (AA-EC-2019-82): Prohibition Order and CMP
    • Former Community Bank Group Risk Officer Claudia Russ Anderson (AA-EC-2019-81): Prohibition Order and CMP
    • Former General Counsel James Strother (AA-EC-2019-70): Personal Cease and Desist Order and CMP
    • Former Chief Auditor David Julian (AA-EC-2019-71): Personal Cease and Desist Order and CMP
    • Former Executive Audit Director Paul McLinko (AA-EC-2019-72): Personal Cease and Desist Order and CMP

Public filings in this case are available at the OCC’s FOIA Reading Room

  • 9/21/2020 – OCC Announced Settlements With Three Former Senior Wells Fargo Bank Executives (OCC News Release 2020–124).
    • Former Community Banking Group Finance Officer Matthew Raphaelson (AA-EC-2020-53): Prohibition Order and $925,000 CMP (Order)
    • Former Head of Community Bank Deposit Products Group Kenneth Zimmerman (AA-EC-2020-54): Personal Cease and Desist Order and $400,000 CMP (Order)
    • Former Head of Community Bank Human Resources Tracy Kidd (AA-EC-2020-52): Personal Cease and Desist Order and $350,000 CMP (Order)
  • 1/23/2020 – OCC Announced Settlement With Three Former Senior Wells Fargo Bank Executives (OCC News Release 2020–6).
    • Former Chairman and Chief Executive Officer John Stumpf (AA-EC-2019-83): Prohibition Order and $17,500,000 CMP (Order)
    • Former Chief Administrative Officer and Human Resources Director Hope Hardison (AA-EC-2019-69): Personal Cease and Desist Order and $2,250,000 CMP (Order)
    • Former Chief Risk Officer Michael Loughlin (AA-EC-2019-86): Personal Cease and Desist Order and $1,250,000 CMP (Order)

Rabobank, N.A., Roseville, CA (merged) Institution Affiliated Parties Litigation

The OCC issued a Notice against the former chief compliance officer of Rabobank, N.A., Roseville, CA on April 16, 2018. Below is a timeline of the administrative litigation, followed by settlements with other individuals.

  • 08/15/2019 –OCC announced settlement with former Rabobank, N.A. General Counsel Daniel Weiss (AA-EC-2018-95): Prohibition Order and $50,000 CMP (Order, OCC News Release 2019-82).
  • 03/25/2019 – OCC issued Notice with OFIA against former Rabobank, N.A. General Counsel (Notice, OCC News Release 2019-40). The OCC sought:
    • Former General Counsel Daniel Weiss (AA-EC-2018-95): Prohibition Order and $50,000 CMP.
  • 08/18/2022 –OCC announced settlement with former Rabobank, N.A. Chief Executive Officer John Ryan (AA-EC-2022-27): Prohibition Order and $20,000 Civil Money Penalty (CMP) (Order, OCC News Release 2022-100).

First National Bank, Edinburg, TX (closed) Institution-Affiliated Parties Litigation

The OCC issued a Notice against two former officers and directors of a closed bank, First National Bank, Edinburg, TX, on September 25, 2017. Below is a timeline of the administrative litigation, followed by settlements with other individuals.

  • 12/7/2023 – The Acting Comptroller of the Currency stayed the effectiveness of his Orders pending judicial review of the Final Decision in the United States Court of Appeals for the Fifth Circuit (Order to Stay).
  • 12/1/2023 – The Acting Comptroller of the Currency issued a Final Decision and Orders (Final Decision and Orders).
  • 3/16/2023 – Parties filed exceptions to Recommended Decision with Acting Comptroller of the Currency.
  • 9/30/2022 – OFIA ALJ Jennifer Whang issued Recommended Decision (Recommended Decision) as to
    • Former Chief Financial Officer, Director, President, Chief Executive Officer, and Chairman of the Board Saul Ortega (AA-EC-2017-44) and
    • Former Chairman of the Board David Rogers, Jr. (AA-EC-2017-45)
  • 6/27/2022 – Post-Hearing Reply Briefs filed by Parties.
  • 4/22/2022 – Post-Hearing proposed findings and conclusions filed by Parties.
  • 2/15/2022 – Virtual Public Hearing concluded.
  • 1/31/2022 – Virtual Public Hearing commenced (OCC News Release 2022–7).
  • 9/25/2017 – OCC Issued Notice of Charges With OFIA Against Two Former Officers and Directors of First National Bank, Edinburg, TX (Notice, OCC News Release 2017–124). The OCC sought:
    • Former Chief Financial Officer, Director, President, Chief Executive Officer, and Chairman of the Board Saul Ortega (AA-EC-2017-44): Prohibition and $250,000 CMP
    • Former Chairman of the Board David Rogers, Jr. (AA-EC-2017-45): Prohibition and $250,000 CMP
  • 11/16/2017 – OCC Announced Settlements With the Following Former Directors and/or Officers and/or Employees of First National Bank, Edinburg, TX (OCC News Release 2017–135).
    • Former Chief Lending Officer, Director, and Employee Michael McCarthy (AA-EC-2017-47): Prohibition and $125,000 CMP (Order)
    • Former President, Chief Executive Officer, Director, and Employee Robert Gandy III (AA-EC-2017-46): Prohibition and $75,000 CMP (Order)
    • Former Controller and Chief Operations Officer Eduardo Leal (AA-EC-2017-52): Personal Cease and Desist Order (PC&D) and $3000 CMP (Order)
  • 10/19/2017 – OCC Announced Settlements With the Following Former Directors of First National Bank, Edinburg, TX (OCC News Release 2017–124).
    • Former Director Oscar Garza, Jr. (AA-EC-2017-50): PC&D and $5000 CMP (Order)
    • Former Director Dwayne Bair (AA-EC-2017-51): PC&D and $5000 CMP (Order)
    • Former Director Jack McClelland (AA-EC-2017-49):PC&D and $5000 CMP (Order)
    • Former Director Arcadio Guerra (AA-EC-2017-48):PC&D and $5000 CMP (Order )