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OSHA orders Wells Fargo to pay $22M to fired whistleblower


The U.S. Department of Labor’s Occupational Safety and Health Administration ordered Wells Fargo & Co. to pay more than $22 million to a former executive whom the bank allegedly fired for reporting financial misconduct, Business Insurance reported. In a press release issued Thursday, OSHA said Wells Fargo violated the Sarbanes-Oxley Act’s whistleblower provisions when it terminated the Chicago-area senior manager, who had repeatedly voiced concerns to area managers and the corporate ethics line about conduct the manager believed violated relevant financial laws, including wire fraud. The San Francisco-based bank was ordered to pay the former employee more than $22 million, which includes back wages, interest, lost bonuses and benefits, front pay, and compensatory damages. The findings follow an investigation by OSHA’s Chicago Regional Office that was initiated after receiving a complaint from the employee. Both parties have 30 days from the receipt of OSHA’s findings to file objections and request a hearing before an administrative law judge. Wells Fargo said in a statement it plans to appeal.

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