Wells Fargo Bank, N.A.
Wells Fargo Bank, N.A. (“Wells Fargo”) has agreed to remit $30,000,000 to settle its potential civil liability for 124 apparent violations of three sanctions programs. For about seven years beginning in 2008 and ending in 2015, Wells Fargo, and its predecessor, Wachovia Bank (“Wachovia”), provided a foreign bank located in Europe with software that the foreign bank then used to process trade finance transactions with U.S.-sanctioned jurisdictions and persons.