Wells Fargo Ex-CEO Banned, to Pay $17 Million in Fake-Account Scandal
Wall Street Journal, Jan. 23, 2020–Rachel Louise Ensign, Ben Eisen (subscription)
A regulator barred former Wells Fargo & Co. chief executive John Stumpf from the banking industry over the firm’s fake-account scandal, an extraordinary sanction for a top executive at a large bank. Stumpf agreed to the ban in a settlement with the Office of the Comptroller of the Currency. He also agreed to pay $17.5 million.