Crime and misconduct

The bank said the conduct includes “instances of customers misusing Paycheck Protection Program Loans, unemployment benefits and other government programs.”

The National Credit Union Administration issued one prohibition notice for August.

Mary Mack is expected to say that other employees were scared of Carrie Tolstedt, according to the bank’s regulators. Tolstedt, one of five former Wells executives facing civil charges in connection with the bank’s phony-accounts scandal, could be fined as much as $25 million.

The executive shuffle at the company continues as Credit Suisse America’s Paula Dominick is hired to replace Mike Roemer as chief compliance officer. It also hired or promoted four line-of-business chief risk officers and an enterprise testing leader.

The regulation allows banks to add employees with past convictions for trivial crimes after the industry complained the prior rules were too severe.

Newly released documents highlight the challenges that Carrie Tolstedt and four co-defendants are likely to confront as they face civil charges involving sales misconduct at the bank.

Prior to the outbreak, members were banned from covering their faces inside branches for security reasons. Now institutions must devise ways to keep everyone healthy and safe.

The lender will pay $65 million in restitution and forgive nearly $500 million in auto debt to settle charges that it steered subprime borrowers into risky loans.

The agency said Wednesday that as long as small businesses return funds they received through the Paycheck Protection Program, no action would be taken.

Cybyer criminals have become more aggressive as employees are working from home. Credit unions should take these steps to ensure they block those efforts.