In April, Wells Fargo, the second largest bank by market capitalization, was recently implicated in the latest in a series of long-standing ethics violations from major lending companies including AIG, Deutsche Bank AG, and American Financial Group. Faced with allegations from both the U.S. Consumer Financial Protection Bureau (CFPB) and the U.S. Office of the Comptroller of the Currency (OCC), Wells Fargo agreed to a staggering $1 billion USD settlement, acknowledging that it had "failed to implement and maintain a compliance risk management program commensurate with its size, complexity, and risk profile."