Former Wells Fargo chief executive John Stumpf has been barred from the banking industry and forced to pay $17.5m in penalties for failing to prevent the creation of fake accounts at the bank.

Stumpf’s settlement was one of several actions the Office of the Comptroller of the Currency, one of the bank’s regulators, announced Thursday against former Wells Fargo executives tied to the scandal. The misconduct, which was discovered in 2016, dated back to 2002 and involved the creation of fraudulent savings and checking accounts to meet sales targets, resulting in bogus fees for unwitting clients.