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Wells Fargo CEO resigns from Federal Reserve advisory panel following fake-accounts scandal

L.A. Times Friday, 23 September 2016 ()
Wells Fargo & Co. Chief Executive John Stumpf has resigned from a Federal Reserve advisory panel, the latest fallout from the banking giant’s fake-accounts scandal.

Stumpf’s move came after five senators called for him not to be reappointed to the Federal Advisory Council, a 12-member body that...
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News video: Wells Fargo CEO Forfeits $41 Million Amid Fake Account Scandal

Wells Fargo CEO Forfeits $41 Million Amid Fake Account Scandal 00:51

Chief Executive Officer at Wells Fargo John Stumpf will forfeit about $41 million dollars of uninvested equity awards and will not receive a salary while the bank’s sales practices are being investigated.

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