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Former Wells Fargo executive Carrie Tolstedt settles SEC fraud charges

Wells Fargo branch
Photo: Leonardo Munoz/Getty Images

Julie DiMauro

3 min read
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She will pay $3m stemming from her role in allegedly misleading investors about the success of Wells Fargo’s community bank.

The former head of Wells Fargo & Co’s community bank, Carrie Tolstedt, has agreed to pay a $3m penalty stemming from charges brought in 2020 for her role in allegedly misleading investors, the SEC said Tuesday.

In March, Tolstedt pleaded guilty to obstructing regulators who tried to examine allegations of sales

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