Wells Fargo's CEO Tim Sloan greets members of congress before testifying in a House Financial Services Committee hearing titled:"Holding Megabanks Accountable: An Examination of Wells Fargo's Pattern of Consumer Abuses" in Washington, U.S. March 12, 2019.
Sloan will be temporarily replaced by C. Allen Parker, who has served as Wells Fargo’s general counsel. Wells Fargo is still weathering a sustained backlash from its admission two years ago that it had opened millions of sham accounts that customers didn’t want and more recent revelations that it had mistakenly foreclosed on hundreds of customers and improperly repossessed thousands of cars.
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. He told the House Financial Services Committee recently that the bank had revamped its board, significantly increased its charitable giving and no longer emphasizes sales goals that were blamed for many of the company’s problem. But did little to quiet criticism of the bank.
This is overdue and inadequate. Wells Fargo should be dissolved.
We are still tracing a $4ok fund transfer into an account at Wells Fargo from Ghana.
This should've happened in 2010.
He made over $150M in the 7 years he was there. …
So do the white people at the office take up a collection for all the black workers who only make $5 for every $100 dollars white people make. I mean, that's what Elizabeth Warren's been going around saying.
Immediately? Took a prettly long damn time, probably get a nice fat severance.
“immediately”
Immediately? I think you don’t understand what that word means.
trilingual1946 Elaine Chao sat on Wells Fargo Board for Years 🤔
sharonvt75 It took how many years?
I completely agree he should step down for mistreating customers. I was in the bank the other afternoon and the free coffee was cold. I complained to management and was told there was a cracked pot. My friend said I got that wrong, they were calling me a cracked pot. Not likely.
But he will not be charged or spend time in jail. If you are rich and/or famous you have the same rules as Trump. Nothing can touch you because you have money and good lawyers.
Bankers have seen better days.
Immediately? They’ve been putting the screws to their customers for decades. Good God.
NATIONALIZE WellsFargo
SHADY ASS WELLS FARGO. Were is the FDIC. Shut them down.
I'm sure worse news is going to follow. Probably a good short
Not progress— window dressing.
Will step down wiyh a huuuuuuuge amount of money. Wells Fargo needs shut down permanently.
Seems about 3 years overdue.
It’s about time.
LOL how long have these 'concerns' been going on? How much money did he make in the interim?
WellsFargo is the worst financial institution. Bunch of crooks and scammers.
What?! No way! Pssst!
Si Katharine Graham levantara la cabeza y viera en lo que habéis convertido su periodico se moriría otra vez
I wish more banks would do this
Should have happened immediately
He better not get a golden parachute
It‘s about time
Arrogant much?
Wells Fargo should not exist.
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.
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