Wells may have settled with former employee Claudia Ponce de Leon because it wanted to avoid the "massive exposure" of a jury trial, an expert says. It is unclear how the agreement will affect Wells’ other cases.
The mishandling of the two former employees’ complaints, detailed in documents and by former OSHA officials, raises questions about the government’s treatment of whistleblowers throughout the financial services industry.
The branch manager was terminated after she reported conduct by at least three private bankers working under her that she believed to be bank, wire and mail fraud.
The U.S. government ordered Wells Fargo to reinstate a former bank manager who was fired after reporting suspected illegal behavior to his superiors and a company hotline.
