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Wells Fargo's board of directors will release its investigation into the bank's fraudulent accounts scandal, pinning blame on two former executives.
John Gerard Stumpf (born September 15, 1953) [2] is an American business executive and retail banker. He was the chairman and chief executive officer of Wells Fargo, one of the Big Four banks of the United States. He was named CEO in June 2007, elected to the board of directors in June 2006, and named president in August 2005.
Former CEO John Stumpf was also hit with a $17.5 million civil penalty. Former Wells Fargo CEO barred from industry, other execs charged for role in phony account scandal Skip to main content
The $2.5-million fine imposed by the SEC on Wells Fargo's John Stumpf isn't even a slap on the wrist. Column: In legal settlement, Wells Fargo's discredited ex-CEO gets a wet smooch from the SEC ...
Wells Fargo's sales culture and cross-selling strategy, and their impact on customers, were documented by the Wall Street Journal as early as 2011. [5] In 2013, a Los Angeles Times investigation revealed intense pressure on bank managers and individual bankers to produce sales against extremely aggressive and even mathematically impossible [7] quotas. [8]
And in John Stumpf's case, it was a fake-account scandal in which low-level employees were, if a growing multitude of allegations are to be believed, all but forced to commit fraud in order to ...
Wells Fargo & Co's U.S. regulator on Thursday announced it had banned former Chief Executive John Stumpf from the banking industry and charged him and seven other former executives combined more ...
Timothy J. Sloan (born 1959/60) is an American banker. He was the chief executive officer (CEO) of Wells Fargo from October 2016 until he resigned in March 2019, after significant pressure related to an ongoing controversy related to an account fraud scandal.