Wells Fargo Separates Chairman, CEO Roles Formally After Scandal
Friday, 2 December 2016 Bank holding company Wells Fargo & Co., amid struggles to re-establish itself after the fake-account scandal, on Thursday said it has separated the roles of the Chairman and Chief Executive Officer formally, by amending the company's By-Laws. The amendment is also for the Chairman and Vice Chairman of the Board to be independent directors. The amendments were effective immediately.
Wells Fargo ( ) has filed court papers demanding arbitration to settle lawsuits filed by 80 customers over its phony accounts scandal. Susan Antilla, a contributor with TheStreet, writes that Wells Fargo has done well in previous arbitration cases, prevailing in 28 consumer-initiated disputes decided...
Massachusetts Sen. Elizabeth Warren told Wells Fargo CEO Tim Sloan he should be fired and that the Federal Reserve should remove all company board members who... USATODAY.com - USAlso reported by •bizjournals •Reuters •L.A. Times •Motley Fool
Wells Fargo’s slump is deepening in the wake of its yearlong sales scandal. The San Francisco bank reported disappointing earnings Friday, bucking the trend... SFGate - BusinessAlso reported by •City A.M.