The U.S. Department of Labor has ordered Wells Fargo to pay an employee more than $22 million following an investigation by its Occupation Safety and Health Administration (OSHA).
OSHA found that Wells violated the whistleblower protection provisions of the Sarbanes-Oxley Act for improperly terminating a Chicago area–based senior manager. The Chicago-based manager was released in 2019 after reporting that he was directed to falsify customer information. The employee also alleged that management was engaged in price fixing and interest rate collusion through exclusive dealing, according to WealthManagement.com.
Wells Fargo alleged that the employee's firing resulted from its restructuring process. However, the OSHA investigation revealed that the termination was inconsistent with Wells Fargo's treatment of other managers removed under the restructuring initiative.
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