by Via Reuters Wells Fargo drags feet: Wells Fargo last September settled with three regulators after revelations that branch staff set up as many as 2.1 million accounts without customer authorization in order to hit sales targets. Since then, the bank has replaced its CEO and other top executives have either resigned or been fired. The bank has been hit with several regulatory inquiries and lawsuits. “The extent of fraud at Wells Fargo was stunning,” Stringer said in a statement sent to Reuters on Thursday. “Executives have been held responsible — but now directors must answer for their part… This board needs to be refreshed — today.”
Topics:
Dan Crawford considers the following as important: Taxes/regulation, US/Global Economics
This could be interesting, too:
Bill Haskell writes The Opioid Epidemic from 1980 Onward in My Words
Angry Bear writes Subsidizing Fossil Fuels
Joel Eissenberg writes Tax cuts for the rich only increase wealth disparity
Angry Bear writes Authorization Requests
Via Reuters Wells Fargo drags feet:
Wells Fargo last September settled with three regulators after revelations that branch staff set up as many as 2.1 million accounts without customer authorization in order to hit sales targets. Since then, the bank has replaced its CEO and other top executives have either resigned or been fired.
The bank has been hit with several regulatory inquiries and lawsuits.
“The extent of fraud at Wells Fargo was stunning,” Stringer said in a statement sent to Reuters on Thursday. “Executives have been held responsible — but now directors must answer for their part… This board needs to be refreshed — today.”