September 8, 2016, the Consumer Financial Protection Bureau (CFPB) imposed a fine of $100 million — the largest in its history — against Wells Fargo & Company for secretly opening accounts without its customers’ knowledge or permission. The Independent Board of Directors of Wells Fargo & Company launched an investigation to understand the causes of this improper and illegal practice and to identify the best ways to rebuild customer confidence. To conduct the investigation, the Board retained Shearman & Sterling, who retained FTI Consulting.

For further information please contact Linda Bertolissio or Riina Rintanen.