Independent news has never been so important.

Did you know that you can get Democracy Now! delivered to your inbox every day? Sign up for our Daily News Digest today! Don't worry, we'll never share or sell your information.

Wells Fargo CEO Steps Down Amid Multiple Scandals

HeadlineMar 29, 2019

Wells Fargo CEO Tim Sloan is stepping down as the banking giant faces multiple scandals related to its predatory lending practices and misleading and defrauding customers. Senator Elizabeth Warren tweeted in response to the news, “About damn time. Tim Sloan should have been fired a long time ago. He enabled Wells Fargo’s massive fake accounts scam, got rich off it, & then helped cover it up. Now—let’s make sure all the people hurt by Wells Fargo’s scams get the relief they’re owed.” Earlier this month, Democratic lawmakers grilled Sloan on consumer fraud, as well as Wells Fargo’s relationship to the NRA, private prisons and the fossil fuel industry. The following day, Wells Fargo increased his salary to $18.4 million, including a $2 million bonus.

The original content of this program is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License. Please attribute legal copies of this work to Some of the work(s) that this program incorporates, however, may be separately licensed. For further information or additional permissions, contact us.

Non-commercial news needs your support

We rely on contributions from our viewers and listeners to do our work.
Please do your part today.
Make a donation