Subscribe to our mailing list

* indicates required

 

 

 

 

BROWSE BY TOPIC

ABOUT FINANCIALISH

We seek to provide information, insights and direction that may enable the Financial Community to effectively and efficiently operate in a regulatory risk-free environment by curating content from all over the web.

 

Stay Informed with the latest fanancialish news.

 

SUBSCRIBE FOR
NEWSLETTERS & ALERTS

FOLLOW US

Features/Scandals

Wells Fargo Investigation Hampered by Outside Attorney Citing Trump Tie - DOL

January 5, 2017

[Cartoon:  by Robert Arial / The State]

 

The U.S. Department of Labor claims Tammy McCutchen, an attorney representing Wells Fargo tried to hamper an investigation into the bank’s treatment of employees and in doing so cited a possible role in the coming Trump administration. Ms. McCutchen supposedly tried to block an agency investigator from accessing records or conducting interviews at a Wells Fargo facility in Concord, CA.

 

Ms. McCutchen is a lawyer at employment and labor relations firm Littler Mendelson, and from 2001 to 2004 was administrator of the Labor Department’s Wage and Hour division. The letter that presumably hampered the investigation was sent by a Labor Department Wage and Hour division administrator, David Weil, on 12/16/16.

 

“When our investigator responded that the agency retains the authority to conduct investigations as delegated to us by the secretary of Labor and that we planned to proceed with visiting the establishment the next day to conduct interviews, you responded that in a few weeks a new administration would be in place and that you might be part of that administration,” the department said in the letter sent to the attorney.

 

The Labor Department probe is focused on whether Wells Fargo skirted overtime rules, among other potential labor issues, in a bid to meet lofty sales goals. The agency began its inquiry after the San Francisco bank in September agreed to a $185 million regulatory settlement and enforcement action for illegal practices that included employees opening accounts without customers’ knowledge.

 

Through a Littler Mendelson spokeswoman, Ms. McCutchen said that she disputes the events cited in the letter and denies any improper statements or conduct. “Never before have I been the subject of assertions such as those contained in the letter and I believe that my reputation for collegiality, ethics and professionalism, both while defending our firm’s clients and during my previous tenure at the [DOL’s Wage and Hour Division], is well known.”