Wells Fargo claws back $75 million from former CEO and top exec

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Wells Fargo claws back $75 million from former CEO and top exec

Wells Fargo claws back $75 million from former CEO and top exec

MONEY CNN-

Wells Fargo is taking back another $75 million from its former CEO and another top executive, blaming them for playing central roles in the bank’s fake account fiasco.

The actions announced on Monday were the result of a massive, six-month investigation by Wells Fargo’s independent directors into the bank’s broken culture.

Wells Fargo’s (WFC) board on Friday took back an additional $28 million from John Stumpf because the longtime CEO was “too slow to investigate or critically challenge” the bank’s sales tactics, the 110-page report said.

[MONEY] 

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2 Responses to “Wells Fargo claws back $75 million from former CEO and top exec”

  1. JohnR says:

    Yea… but according to this article he walked away with $130 Million… now this doewsn’t include his usual salary…. “Stumpf opted for early retirement amid controversy, but the longtime bank boss is walking away with around $130 million, according to a CNNMoney analysis of SEC filings.”

    http://money.cnn.com/2016/10/13/investing/wells-fargo-ceo-resigns-compensation/

    This is just for ONE YEAR!

  2. Charles Reed says:

    What about the $11.44 billion in the fraud that Wells committed with the Washington Mutual Bank FHA & VA loans? Cost the Fed Gov $11.44 billion in fraud foreclosure and false insurance claims!

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