Wells Fargo Grapples With Scandal

0
584

stumpf-2
BY KEN SWEET

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.
The San Francisco bank said Stumpf is retiring effective immediately and also relinquishing his title as chairman. He won’t be receiving severance pay and the bank announced earlier that he will forfeit $41 million in stock awards.
Wells Fargo’s chief operating officer, Tim Sloan, will succeed Stumpf as CEO and join the company’s board. Sloan has been with Wells Fargo for 29 years. Stephen Sanger, the bank’s lead director, will serve as the board’s non-executive chairman.
Read the Full Article at www.usnews.com >>>>

ATTENTION READERS

We See The World From All Sides and Want YOU To Be Fully Informed
In fact, intentional disinformation is a disgraceful scourge in media today. So to assuage any possible errant incorrect information posted herein, we strongly encourage you to seek corroboration from other non-VT sources before forming an educated opinion.

About VT - Policies & Disclosures - Comment Policy
Due to the nature of uncensored content posted by VT's fully independent international writers, VT cannot guarantee absolute validity. All content is owned by the author exclusively. Expressed opinions are NOT necessarily the views of VT, other authors, affiliates, advertisers, sponsors, partners, or technicians. Some content may be satirical in nature. All images are the full responsibility of the article author and NOT VT.
Previous articleFall River teen organizes Election Day drive for local veterans
Next articleVeterans assistance available at upcoming stand down