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FTI Consulting’s investigation was referenced numerous times throughout Wells Fargo’s Board of Directors report, which was publicly issued and led to wide-ranging reforms of Wells Fargo’s internal practices.
Reputation Restored
Forensic Investigation Leads to Wide-Ranging Reforms at Wells Fargo
Reputation Restored
Forensic Investigation Leads to Wide-Ranging Reforms at Wells Fargo
Key Contacts
How do you restore the reputation and enterprise value of a storied American bank?
Faced with one of the largest cases of alleged customer fraud in U.S. banking history, a special committee of Wells Fargo's Board of Directors engaged FTI Consulting and Shearman & Sterling to conduct an independent investigation into how these alleged events occurred.
Our Impact
As of June 2025, Wells Fargo has retired 13 consent orders tied to the fake accounts scandal. Wells Fargo remains one of the largest banks in the United States.
Slide for The United States flag waves beside the white dome and columns of the U.S. Capitol building against a cloudy sky.
These reforms helped the bank avoid criminal prosecution and were referenced in the bank’s $3 billion settlement with the U.S. government in February 2020.
In crisis and transformation,real-world experience delivers.
Our Role
Restoring a bank’s reputation and enterprise value
The independent directors of Wells Fargo’s Board of Directors issued a public report on the root causes of the sales practice failures. FTI Consulting's findings were a big part of the foundation to support their point of view.
FTI Consulting's forensic accounting and data analytics experts examined millions of records spread across multiple platforms, looking back 15 years for relevant data.
The team conducted more than 50 interviews and analyzed consumer bank data from millions of accounts to uncover underlying issues ranging from decentralized processes to corporate culture.
FTI Consulting experts presented findings and responded to requests from attorneys at various agencies, including the SEC, civil and criminal divisions of the DOJ and the California Attorney General’s office.
Real-world experience that delivers.
See why FTI Consulting is the leading global expert firm for organizations facing crisis and transformation.
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