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He was named CEO in June 2007, elected to the board of directors in June 2006, and named president in August 2005. He became chairman in January 2010. Stumpf resigned as chairman and CEO of Wells Fargo on October 12, 2016, after a scandal involving customer accounts and subsequent pressure from the
Wells Fargo's sales culture and cross-selling strategy, and their impact on customers, were documented by the Wall Street Journal as early as 2011. [5] In 2013, a Los Angeles Times investigation revealed intense pressure on bank managers and individual bankers to produce sales against extremely aggressive and even mathematically impossible [7] quotas. [8]
Here's an overview of Wells Fargo's most notable scandals and missteps as CEO Tim Sloan testifies before the House Financial Services Committee.
Three former Wells Fargo executives must pay $18.5 million for their role in the bank’s widespread fake sales accounts scandal that came to light nearly a decade ago. Based in San Francisco ...
Tim Sloan claims he was a scapegoat in the bank’s massive sales account scandal Wells Fargo tells state court why it should toss out $34M lawsuit from former CEO Skip to main content
Timothy J. Sloan (born 1959/60) is an American banker. He was the chief executive officer (CEO) of Wells Fargo from October 2016 until he resigned in March 2019, after significant pressure related to an ongoing controversy related to an account fraud scandal.
When I think about John Stumpf, the now-disgraced former chairman and CEO of Wells Fargo ... And in John Stumpf's case, it was a fake-account scandal in which low-level employees were, ...
Former CEO John Stumpf was also hit with a $17.5 million civil penalty. Former Wells Fargo CEO barred from industry, other execs charged for role in phony account scandal Skip to main content