Tim Sloan, then the president and chief executive of Wells Fargo and Co., during testifimony before the House Financial Services Committee in Washington on March 12.Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings.For the second time in 2½ years, a chief executive of Wells Fargo & Co. resigned abruptly on Thursday as the scandal-ridden bank took another stab at putting its problems behind it.
Tim Sloan became CEO in October 2016, succeeding John Stumpf after the company was hit with the first of what would become billions of dollars in penalties for having opened millions of bank accounts without customers' authorization., to $18.4 million a year.
"About damn time," Sen. Elizabeth Warren of Massachusetts, a Democratic presidential candidate who has long slammed Wells Fargo,"Tim Sloan should have been fired a long time ago," said Warren, a career consumer activist and former special adviser to the federal Consumer Financial Protection Bureau."He enabled Wells Fargo's massive fake accounts scam, got rich off it, & then helped cover it up.
Duke said in a statement that Allen Parker, Wells Fargo's senior executive vice president and general counsel, would replace Sloan, but she made it clear that he wasn't a long-term solution, saying that"seeking someone from the outside is the most effective way to complete the transformation at Wells Fargo."
Before he joined Wells Fargo in 2017, Parker, 64, was the presiding partner of Cravath, Swaine & Moore, one of the country's most prominent law firms. His interim appointment comes at a time when Wells Fargo has revealed that it has paid billions of dollars in fines and other penalties and that it is operating under 14 separate consent decrees with regulators.
To bad Elizabeth Warren doesn't follow.
Nobody Does the time anymore you were crooking on people 5 years ago and never had to pay for the call... there's nobody remember the bogus account setups.
SenWarren Wrong CEO, always useful to be accurate when criticizing.
He’ll be named to the fed reserve soon.
Trump will hire him for his swamp, sounds like a perfect fit
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Source: CNBC - 🏆 12. / 72 Read more »
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Wells Fargo CEO Tim Sloan retiring, shares jumpHe should be in jail Outright theft Speaking from experience with fake accounts set up by Wells Fargo on my behalf That’s not going to get me back to Wells Fargo. They lost me as a customer forever. According to equilarinc data, CEO Tim Sloan made over $150 million at WellsFargo. Read more here:
Source: CNBC - 🏆 12. / 72 Read more »
Wells Fargo CEO Tim Sloan is retiringWells Fargo CEO Tim Sloan is retiring. He will also be stepping down as president and a member of the board. Tim Fargo is stepping down
Source: BusinessInsider - 🏆 729. / 51 Read more »
Wells Fargo CEO Tim Sloan steps down suddenlyJUST IN: Wells Fargo has announced the sudden retirement of CEO Tim Sloan as the bank struggles to overcome a litany of scandals Another bites the dust... QAnon TheStormIsHere Listed up-to-date? Normal? QSentMe
Source: CNN - 🏆 4. / 95 Read more »
Wells Fargo CEO Sloan steps down after rocky tenureNEW YORK (AP) — Wells Fargo Chief Executive Tim Sloan is stepping down, effective immediately, after less than four years on the job during which the troubled bank dealt with a seemingly unending... fuck wells fargo Bye, bish! He should in jail for opening fake accounts without customer’s’ consent.
Source: AP - 🏆 728. / 51 Read more »
Wells Fargo CEO Timothy Sloan Will Step DownWells Fargo said CEO Timothy Sloan will step down immediately and retire from the company June 30; the bank's general counsel will be interim CEO Timothy is stepping down why? Ut ooooooh srubenfeld What happened?
Source: WSJ - 🏆 98. / 63 Read more »
Wells Fargo CEO Tim Sloan to step down immediatelyTim Sloan, a 31-year veteran of the company, has spent years apologizing for the bank’s bad behavior and attempting to rebuild its reputation with customers, regulators and lawmakers. That was not enough for the bank's critics. WellsFargo has sucked for about 20 years. They are in need of a major overhaul. Maybe should be closed completely at this point. Violation after violation. He better not get a golden parachute It‘s about time
Source: washingtonpost - 🏆 95. / 72 Read more »
Wells Fargo CEO Out, Stock RisesThe CEO of Wells Fargo is stepping aside as a massive phony account scandal continues to plague the bank I wonder what his payout is... Sports1Business WellsFargo Shameful
Source: Forbes - 🏆 394. / 53 Read more »
Wells Fargo CEO Tim Sloan steps downWells Fargo & Co said on Thursday Tim Sloan will resign immediately as its chief... In disgrace? Well....................Bye. Into hell?!
Source: Reuters - 🏆 2. / 97 Read more »
Wells Fargo CEO Tim Sloan is retiring as bank struggles to get past scandalsTim Sloan took over as Wells Fargo's chief executive in 2016 after former CEO John Stumpf resigned amid the controversy over the creation of millions of accounts without customer authorization. hmmmmmmm…..this isn't usually how big 5 leadership changes take place. and let me guess, not going to jail? AOC had Tim so shook he had to retire.
Source: latimes - 🏆 11. / 82 Read more »