![]() ![]() The bank intends to cease sales goals for its products and services, change the company’s compensation structure, so that it's tied to the best interests of its customers, and strengthen oversight of the large organization. Wells Fargo claims that it has enacted measures with the goal of earning back the trust and confidence of its stakeholders, including clients, employees, investors and regulators. The OCC also barred former CEO Stumpf from ever working at a bank again and ordered that he pay $17.5 million for his role in the scandal. Last month, the Office of the Comptroller of the Currency (OCC) charged former Wells Fargo executives for their roles in the sales scandal. Attorney Nick Hanna added, “Simply put, Wells Fargo traded its hard-earned reputation for short-term profits, and harmed untold numbers of customers along the way.” ![]() Attorney for the Western District of North Carolina, said, "Today's announcement should serve as a stark reminder that no institution is too big, too powerful or too well-known to be held accountable and face enforcement action for its wrongdoings." ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |