WASHINGTON, March 15 (Reuters) - The former head of Wells Fargo's retail bank is facing prison time after agreeing to plead guilty to obstructing a bank examination in relation to the sweeping phony accounts scandal that roiled the bank in 2016.
Carrie Tolstedt, 63, faces up to 16 months in prison under a plea agreement with federal prosecutors filed on Wednesday. The development marks a rare instance of a senior bank executive facing prison time as a result of their job.