Irish central bank levies record fine on Wells Fargo

The Central Bank of Ireland
William Murphy

The Central Bank of Ireland fined the local subsidiary of US bank Wells Fargo €5.88 million ($6.6 million) on July 3 for serious regulatory and governance failures.

The central bank announced the fine today (July 5), saying it had found “serious failings” in Wells Fargo’s regulatory reporting capability and compliance. This is the second-largest fine it has ever imposed. In May, it levied a €21 million fine on Permanent TSB bank.

“The governance arrangements and internal controls relating to

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: