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The Office of the Comptroller of the Currency (OCC) today announced settlements with David Julian, former Chief Auditor at Wells Fargo Bank, N.A. (Bank), and Paul McLinko, former Executive Audit Director at the Bank.
In the Consent Orders memorializing the settlements, the OCC assessed a $100,000 civil money penalty against Mr. Julian and a $50,000 civil money penalty against Mr. McLinko and issued personal cease and desist orders to both former executives. These orders resolve the enforcement actions the OCC initiated against Mr. Julian and Mr. McLinko in January 2020 in connection with the Bank’s longstanding systemic sales practices misconduct, as well as the former Bank executives’ appeal of Final Decisions issued by the OCC on January 14, 2025 to the U.S. Court of Appeals for the District of Columbia Circuit.
The OCC previously entered into Consent Orders with eight other former Wells Fargo senior executives related to systemic sales practices misconduct as announced on January 23, 2020, September 21, 2020, January 15, 2021, and March 15, 2023. To date, the OCC’s actions have resulted in more than $43 million in penalties against these former executives. All fines have been paid to the U.S. Treasury.
