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Shake-up at Wells Fargo Fails to Dispel Skepticism From Regulators (AND OTHERS)

While the Wells Fargo board emphasized that Mr. Sloan was "ready to lead the company into the future," the bank's critics focused on the role that Mr. Sloan -- who has spent the last 29 years at Wells Fargo -- played in the bank's troubling past. "I remain concerned that incoming C.E.O. Tim Sloan is also culpable in the recent scandal, serving in a central role in the chain of command that ought to have stopped this misconduct from happening," Representative Maxine Waters, a California Democrat, said in a statement.
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