At last regulators (U.S. Office of the Comptroller of the Currency) are going after the people behind egregious financial behavior rather than just fining corporations. Former Wells_Fargo CEO John Stumpf was fined $17.5 million over the fake accounts scandal and barred from working in the industry for the rest of his life. (The Wall Street Journal, 1/24/20). Seven of the other top executives responsible for the multiple Wells Fargo scandals were also charged.
The amount of the fine makes me wonder how much money this guy amassed during his banking career (while screwing customers and employees, and ruining their financial lives). He can easily retire in comfort with no need for further employment.
For more explanation of the egregious behavior of the Wells Fargo CEO and his top officers simple do an internet search for Wells Fargo Scandal to get the details.
With so many financial institutions to choose from, why stay with Wells Fargo?
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