In the aftermath of the financial services crisis, Wells Fargo emerged with arguably the soundest reputation among the country’s major banks. But a scandal last year involving the creation of fraudulent credit card and deposit accounts led to the payment of $185 billion in fines to the city of Los Angeles and federal agencies, tainting the bank’s reputation.
In October, Wells Fargo’s Chief Executive John Stumpf resigned. He had held his position for nine years, and his departure underscored a culture gone awry.
