Tag: John Stumpf


Former Wells Fargo CEO barred from banking industry, fined $17.5m

January 24, 2020

Via: Banking Technology

Seven other former Wells Fargo executives were reprimanded by the Office of the Comptroller of the Currency (OCC), tallying fines with Stumpf which collectively come to at least $59 million. Stumpf agreed to his settlement alongside two other executives, having […]

Activity, Corporate Banking

Wells Fargo CEO Stumpf retires effective immediately; Tim Sloan to take over

October 13, 2016


Wells Fargo said on Wednesday that Chairman and CEO John Stumpfwill retire effective immediately in the wake of a sales scandal at the bank. The company’s board of directors elected President and Chief Operating Officer Tim Sloan to succeed him […]


Wells CEO Stumpf forfeits $41 million in unvested equity amid independent probe

September 28, 2016


Wells Fargo CEO John Stumpf will forfeit about $41 million in unvested equity and temporarily forgo his salary, as the company’s independent directors launch an investigation into the company’s retail banking practices. The bank also said on Tuesday that Carrie […]


Wells Fargo Scandal Highlights 3 Common Threads About Big Bank Scandals

September 22, 2016

Via: TheStreet

Earlier this year, following Deutsche Bank’s (DB) massive loss of $7.5 billion the Bank’s CEO John Cryan told the Financial Times’s Laura Noonan in a phone call that the bank he’d like to run was Wells Fargo (WFC) . Months later, […]


Senate Panels Questions Wells Fargo Chief About Unauthorized Accounts

September 20, 2016

Via: TheStreet

Wells Fargo (WFC) CEO John Stumpf is fielding questions from the Senate Banking Committee today on nearly 2 million accounts that may have been opened without customer approval by employees attempting to meet sales goals. Stumpf is joined by Thomas Curry, […]