WASHINGTON—The Office of the Comptroller of the Currency (OCC), a top U.S. banking regulator, kicked off its civil trial on Monday of three former Wells Fargo & Co. executives over their alleged roles in a scandal involving phony accounts at the San Francisco lender.
The proceedings before an in-house OCC judge in Sioux Falls, South Dakota, mark a rare public confrontation between the regulator and former top bank executives it says are partly culpable for Wells Fargo’s misconduct.
