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Monday, April 10, 2017

Breaking News: Well Fargo executives were ordered to pay back $75 million after a scathing report on the company's sales fraud scandal

Wells Fargo’s board said Monday that it would claw back an additional $75 million in compensation from the two executives on whom it pinned most of the blame for the company’s sales scandal: the bank’s former chief executive, John G. Stumpf, and its former head of community banking, Carrie L. Tolstedt.

In a scathing, 113-page report that made it clear that all the warning signs of the problem had been glaring, the board released the results of its six-month investigation into the conditions and culture that prompted thousands of Wells Fargo employees to create fraudulent accounts in an effort to meet aggressive sales goals.


Anonymous said...

When is someone going to go to prison. If you are at one of these "too big to fail" criminal Enterprises you literally have a license to steal. If you get caught you pay a fine that's half what you stole in the first place. WHERE IS THE LAW AND ORDER MR. TRUMP?!

Anonymous said...

As if that does anything for those little people whose lives were forever changed for the worse when they got conned and then put through the ringer, the con men smiling and joking all the way.

Anonymous said...

Thats a rounding error for wells fargo. All of the men behind the whip should face jail time they are used to money being stolen from them. Thats the business they are in ya know.