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.
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