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Watch Live: Wells Fargo CEO To Apologize (Again) To Congress For Massive Fraud

"One Year Later" is the title of the hearing that Wells Fargo CEO Tim Sloan faces this morning with the Committee on Banking, Housing, & Urban Affairs. A year after former CEO John Stumpf was grilled by lawmakers over the bank’s massive...Show More Summary

BUFFETT: Wells Fargo made 3 huge mistakes during the fake accounts scandal but one 'dwarfs all the others'

Warren Buffett said that the biggest failure of the Wells Fargo fake accounts scandal should be laid at former CEO John Stumpf's feet. Wells Fargo settled with regulators in September after it was revealed that employees had opened as many as 2 million accounts in the names of customers without their knowledge. Show More Summary

Wells Fargo board to force fraud-implicated former execs to repay $75m in bonuses

8 months agoHumor / odd : Boing Boing

Former CEO John Stumpf (a major villain in the subprime scandal) previously lost $41m out of the $200m he made overseeing a multi-year fraud that stole from 2,000,000 of the bank's customers -- now he will have to repay another $28m. (more…)

Report Released On Wells Fargo Fake Account Scandal; $75 Million To Be Taken Back From Two Former Execs

A new report by an independent law firm points the finger at former CEO John G. Stumpf, and former head of community banking, Carrie L. Tolstedt. [ more › ]

Wells Fargo Grabs Back $75M From Ex-Execs

New developments in the Wells Fargo sales scheme emerged Monday, with an investigative report from the bank's board noting that $75 million in compensation will be clawed back from two former executives, including ex-CEO John Stumpf, the New York Times reports. After a six-month probe into the scandal that resulted...

Wells Fargo Claws Back $75 Million More From 2 Executives Over Fake Accounts

8 months agoNews : The Two-Way

Former CEO John Stumpf "was too slow" to realize the risk of sales practices, the bank's board says. The scandal also brought a $185 million punishment from the Consumer Financial Protection Bureau.

Tim Sloan Gets $2 Million Raise For Not Being John Stumpf

Let he who is without a reputation-shattering sales scandal of biblical proportions on his watch cast the first stone.

"We Are All Doing It": Thousands Of Candian Bankers Admit Lying To Customers To Boost Sales

Several days after shares of Canada's TD Bank tumbled following reports that its employees were engaging in practices similar to those which led to a major scandal at Wells Fargo, which cost CEO John Stumpf his job and led to bonus clawbacks...Show More Summary

Heitkamp Tries to Distance Herself From Elizabeth Warren While Accusing Republicans of Creating a “Boogeyman”

U.S. Sen Elizabeth Warren (D-MA) questions Wells Fargo CEO John Stumpf (not pictured) during his testimony before a Senate Banking Committee hearing on the firm's sales practices on Capitol Hill in Washington, U.S., Sept. 20, 2016. REUTERS/Gary...Show More Summary

Senate Republicans Should Have Let the Fool Talk

U.S. Sen Elizabeth Warren (D-MA) questions Wells Fargo CEO John Stumpf (not pictured) during his testimony before a Senate Banking Committee hearing on the firm's sales practices on Capitol Hill in Washington, U.S., Sept. 20, 2016. REUTERS/Gary...Show More Summary

Wells Fargo Splits Chairman, CEO Roles After Account Scandal

[The] move is significant in an industry that has long fought off pressure from corporate governance activists and shareholders including pension managers, but it won't change Wells Fargo's current leadership. John Stumpf had held both roles at Wells Fargo until he stepped down in October under pressure from lawmakers. Show More Summary

Wells Fargo General Counsel Postpones Retirement "In Light Of Recent Events"

Having claimed the job of CEO John Stumpf, the Wells Fargo cross-selling fiasco continues to reverberate within the org chart of the scandal-ridden bank. Reuters reports that James Strother, the general counsel of Wells Fargo, who had...Show More Summary

Column: We don’t need Washington to fix bloated CEO pay

Wells Fargo CEO John Stumpf will walk away with a pay package that averages close to $15 million a year, even as the bank was involved in a massive phony account scandal under his watch, writes economist Dean Baker. Photo by Elijah Nouvelage/Reuters Editor’s...Show More Summary

Wells Fargo says that its customers gave up right to sue by having their signatures forged

last yearHumor / odd : Boing Boing

Even though disgraced Wells Fargo CEO John Stumpf has left the building, his most outrageous legal theories live on: on Wednesday, the company filed a motion in a federal court in Utah seeking dismissal of a class action suit by theShow More Summary

New Wells Fargo CEO has a mea culpa to share: 'We could have moved faster'

Tim Sloan became CEO when John Stumpf retired amid the phony account scandal.        

The Wells Fargo Debacle: How Proper Reward Practices Can Remedy A Toxic Culture

By Benjamin Schneider and Edward E. Lawler III John Stumpf has stepped down as CEO and Chairman of Wells Fargo amid public pressure. Rarely is someone at the top of an organization held accountable for the sins perpetrated by those below – even if they directly or implicitly encouraged them. Will [...]

14% Of Polled Wells Fargo Customers Have Decided To Leave The Bank

Wells Fargo's illegal cross-selling and fraudulent account creation practices appear to have caught up with the bank, just days after CEO John Stumpf announced his surprise resignation. As Bloomberg reports, management consultancy cg42...Show More Summary

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