- Wells Fargo & Co gave Chief Executive Tim Sloan a 5 percent pay raise for 2018, prompting the Federal Reserve to release a statement saying that it does not sign off on executive pay.
“The Federal Reserve does not approve pay packages. We expect boards of directors to hold management accountable,” said a Fed spokesperson in an emailed statement when asked about the bank’s new executive compensation numbers. The 2016 revelation that Wells Fargo created millions of fake customer accounts prompted regulatory probes into mortgage foreclosures, auto insurance sales and its wealth management businesses, resulting in billions of dollars in fines.
More scandals and abuse of depositors, lying employees and executives and they all get rewarded? Corporate waste, poor management oversite and neglect at board level..a bad bank.
Lost in the CEO shuffle, pay for WF median employee rose 7.8%.
Stockholders asleep at the wheel.
Never mind minimum wage. It’s time for a hard cap maximum wage.
All corrupt .... Consumers make I money. Lol
Yes you should because your elected officials are as pure as snow... please take one minute to look into the holy than the scum bag Mrs Waters and her crooked husband before you throw stones and then get back with me
I didn't receive a 5% raise.
More rich white people shannigans.
WellsFargo is trash and as for tomorrow morning i will stop by my nearest branch and close all my accounts and never look back
SCUMBAGS.
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