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What you need to know on Wall Street right now

Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Wells Fargo CEO John Stumpf and Carrie Tolstedt, the executive who ran the bank's retail banking division, will forfeit tens of millions of dollars in bonuses as the bank tries to stem a scandal over its sales practices. Sen. Elizabeth Warren said the move is a "small step," but doesn't think the bank has gone far enough.
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