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Wells Fargo execs forfeit $60 million over account scandal

Wells Fargo says CEO John Stumpf and the executive who ran the bank's retail banking division will forfeit tens of millions of dollars in pay as the bank tries to stem a scandal over its sales practices. The independent directors at the nation's second-largest bank said Tuesday that Stumpf will forfeit $41 million in stock awards, while former retail banking executive Carrie Tolstedt will forfeit $19 million of her stock awards, effective immediately.
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