Former Wells Fargo exec cleared of $10M penalty in fake accounts scandal

CHARLOTTE — A former Wells Fargo executive, once ordered to pay $10 million for her role in the bank’s fake sales accounts scandal, will now pay nothing.

According to the Charlotte Observer, federal regulators have settled with Wells Fargo’s former risk officer, Claudia Russ Anderson.

The scandal involved thousands of employees opening millions of unauthorized accounts.

In total, regulators collected more than $430 million in fines from other executives.

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