The Logical Leftist
@logicallyleftist·273K subscribers·15.5K videos
Wells Fargo CEO gets punished...kind of
Posted
September 29, 2016
Views
1,891
Likes
39
Comments
8
Engagement
2.49%
September 29, 2016
1,891
39
8
2.49%
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"The CEO will forfeit $41 million in past compensation — all of it in the form of investment holdings that hadn’t vested yet — and the woman who ran his firm’s retail banking unit will give back $19 million of her own.
That subordinate, Carrie Tolstedt, was initially the only person at the top level of the bank to take a fall for the scandal, in which about 2.5 million fake accounts and credit cards were opened without customers’ permission or knowledge in order to generate fee revenue for the firm. She resigned in the wake of the CFPB fine, ahead of a pre-planned exit at the end of this year."
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