Navigation

2020-01-23 — cnbc.com

``The U.S. government announced Thursday that former Wells Fargo CEO John Stumpf has been banned from ever working at a bank again and will pay $17.5 million for scandals in which millions of fake accounts were set up to meet sales quotas.

...

In addition to the $17.5 million fine, Stumpf's settlement declares he shall not participate "in any manner" at any bank regulated by the OCC or participate or attempt to participate in a bank's corporate board votes.

...

The nation's fourth-largest bank, Wells Fargo has remained muddled in restructuring and regulatory reforms since 2016 stemming from the scandals at its consumer-facing community bank.

go to full article | permalink to this | forum thread | | RSS | Subscribe by email!



Comments: Be the first to add a comment

add a comment | go to forum thread