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BREAKING NEWS:Wells Fargo’s chief, John Stumpf, is stepping down  

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Wonder what his golden parachute is worth...

BREAKING NEWS
Wells Fargo’s chief, John Stumpf, is stepping down amid the fallout from the bank’s creation of sham accounts
Wednesday, October 12, 2016 5:28 PM EDT

Mr. Stumpf will be replaced by Timothy J. Sloan, the bank’s president and chief operating officer, the company announced on Wednesday.

Wells Fargo has been under fire for a long-running scandal in which employees set up unauthorized accounts to meet sales quotas.

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