Wells Fargo is also facing lawsuits from former employees, shareholders, and customers. The bank has said it is changing its sales practices, and recently removed the sales goal incentives that led to fraud. But customers and industry watchdogs are now on alert. FEATURED VIDEO The Man Behind ...
Wells Fargo’s independent directors are punishing two top executives after the bank’s scandal over sales practices. Chairman and CEO John Stumpf is forfeiting $41 million dollars in stock awards and will forgo his salary during the investigation. Former executive Carrie Tolstedt, who oversaw...
Free Essay: Wells Fargo Scandal Wells Fargo founded in 1852 is known for being a financial services company. Wells Fargo provides banking, insurance,...
Wells Fargo exec in accounts scandal deserves jail time, say prosecutors: ‘Corporate wrongdoers must be sent a clear message’ BYJoel Rosenblatt and Bloomberg September 2, 2023 at 11:49 PM GMT+8Wells Fargo paid $3 billion in penalties in 2020 over its widespread practice of opening checking...
A U.S. bank regulator announced Monday it had fined three former executives at Wells Fargo Bank for their roles in the company's sales practices scandal.
Wells Fargo's embattled CEO John Stumpf is stepping down as the nation's second-largest bank is roiled by a scandal over its sales practices.
Wells Fargo is nearing a settlement with the U.S. Securities and Exchange Commission and the Justice Department over previously disclosed probes into its sales practices, the New York Times reported on Thursday.
Wells Fargo's annual meeting is on Tuesday in Des Moines, Iowa, 1,800 miles away from company headquarters, where top executives have been scrambling for nearly two years to contain the damage from a sales practices scandal
Wells Fargomissed out on the upbeat start to the year enjoyed by rivalsJPMorgan ChaseandCitigroup, highlighting how the bogus customer account crisis is weighing on the US bank’s financial performance. Disruption caused by thesales scandaland fees for lawyers and other professionals dealing with th...
What Steps Is Wells Fargo Taking in Wake of Sales Abuse Scandal?Wells Fargo says it will cut its aggressive product sales goalsfor retail bankers, as it seeks...Rosen, Ben