The Office of the Comptroller of the Currency has agreed to settle its case against an ex-Wells Fargo & Co. executive who had been facing a $10 million fine and a ban from working in the banking industry for her role in a scandal that involved bank employees opening millions of potentially fake accounts to meet sales goals.

Claudia Russ Anderson, of Lake Elmo, who served Wells Fargo’s community bank group risk officer, no longer must pay a fine and may be employed by a bank in the future if she wants, under the terms of the settlement finalized in a consent order signed Wednesday.

In 2020, the OCC brought administrative charges against Russ Anderson, initially seeking a $5 million penalty, which the agency later increased to $10 million. The final order, issued by Acting Comptroller of t

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