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...
Two weeks after the latest consumer scandal involving Warren Buffett's favorite bank, Wells Fargo, broke when the NYT reported that *as many as 800,000 people... Zero Hedge - MarketsAlso reported by •WorldNews •L.A. Times •CNNMoney