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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.
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's board of directors will release its investigation into the bank's fraudulent accounts scandal, pinning blame on two former executives.
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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]
It's the definition of "failing upwards." It's become almost rote that when executives resign in disgrace they get to walk away with massive paydays. It's not just Wells Fargo: executives who get ...
The bank's board of directors is examining what action it should take against company executives, Stumpf told the Senate Banking Committee. Wells Fargo CEO accepts responsibility for 'unethical ...
Wells Fargo is embroiled in a scandal over the opening of sham accounts and was sued on Friday by customers who accused the bank of fraud. Wells Fargo CEO to take 'full responsibility' in Senate ...