Wells Fargo claws back $75M from former CEO, top exec

Wells Fargo claws back $75M from former CEO, top exec

Wells Fargo & Co. will claw back an additional $75 million from former CEO John Stumpf and Carrie Tolstedt, former head of community banking, blaming them for playing central roles in the bank’s fake account scandal. The move is a result of an independent investigation launched in September after regulators fined the bank $185 million for its aggressive sales tactics. Together with previous actions from last fall, Wells Fargo senior executives are returning $180 million in pay.

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