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Wells Fargo CEO steps down in wake of fake account scandal

The CEO of Wells Fargo will reportedly step down as CEO and chairman of the board of the major U.S. bank, a move that comes in the wake of a major scandal over the creation of fake accounts on behalf of thousands of customers. SEE ALSO: Wells Fargo fined $185 million over phony accounts John Stumpf, who had served as CEO of Wells Fargo since 2007 and worked for the company for 24 years, has retired, the company announced in a press release.
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