TD Bank Group’s Ellen Patterson, named Friday as Wells Fargo & Co.’s next general counsel, will join the bank on March 23 in an effort to improve its scandal-plagued image, its culture and its relationship with regulators.
Patterson will overlap for one week with Allen Parker, the previous general counsel who also tried for more than two years to accomplish those feats but apparently fell short. Because of its repeated misconduct, the bank is operating under five consent agreements from four different regulators. Last month Wells Fargo agreed to pay a $3 billion penalty to resolve its fake bank account scandal.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Not a Bloomberg Law Subscriber?
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]