A former Wells Fargo executive, Cindy Flores, has been banned from the banking industry after stealing tens of thousands of dollars from customer accounts.
A Year of Fraud
The Office of the Comptroller of the Currency (OCC) found that Flores, a former operations associate manager, stole at least $47,646.52 from customer accounts between September 2022 and October 2023. She moved money from customer accounts and tried to hide her actions.
Personal Gain, Bank Losses
Flores’s actions benefited her personally, but Wells Fargo had to reimburse the affected customers, taking a financial hit. The OCC said Flores’s actions were “dishonest” and showed a “disregard for the safety or soundness of the bank.”
Banned From Banking
Flores agreed to the OCC’s consent order, which bans her from working in the US banking industry. She can only return to the industry with written permission from the OCC and any financial company that wants to hire her.
Other Legal Action Possible
The OCC’s consent order doesn’t stop other regulators or federal agencies from taking legal action against Flores if they see fit.
