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Wells Fargo CEO to Return $41 Million in Compensation Amid Scandal

HeadlineSep 28, 2016

In financial news, Wells Fargo CEO John Stumpf is being forced to return $41 million of his personal compensation amid a massive scandal at the major Wall Street bank involving thousands of employees who took private customer information to create 2 million fake accounts in order to meet sales targets. The scandal dates back to at least 2011, and Stumpf admits he’s known about the practice since 2013. Senator Elizabeth Warren has called for Stumpf to resign and to be criminally investigated.

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