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Home / News / Wells Fargo CEO is out as bank grapples with sales scandal

Wells Fargo CEO is out as bank grapples with sales scandal

Wells Fargo's embattled CEO John Stumpf is stepping down as the nation's second-largest bank is roiled by a scandal over its sales practices. The San Francisco bank said Stumpf is retiring effective immediately and also relinquishing his title as chairman. He won't be receiving severance pay and the bank announced earlier that he will forfeit $41 ...

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