Monday, April 10, 2017

Wells Fargo board blames former CEO, head of community banking for fake accounts debacle

Wells Fargo & Co.’s board of directors slammed former CEO John Stumpf and the bank’s former head of community banking in an internal report Monday, saying it would claw back $75 million more of their pay than previously reported and that Stumpf knew about systemic problems for more than a decade before acting. The bank released the findings of its independent investigation into the company’s illicit sales practices Monday. The board review found that Stumpf was aware of specific cases of aggressive…



from http://www.bizjournals.com/baltimore/news/2017/04/10/wells-fargo-board-blames-former-ceo-head-of.html?ana=RSS%26s=article_search
via http://baltimorecheckbook.tumblr.com/post/159421287057

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