Wells Fargo splits Chairman and CEO roles in wake of fake account scandal

In the wake of Wells Fargo’s fake account scandal, which led to the bank being fined $185 million and other significant changes at the bank, some blamed the bank’s executive structure for allowing the millions of fake accounts to go unnoticed for so long. Moving forward, one person will not be allowed to serve as both chairman and CEO of the bank, as the bank’s board of directors announced this week that it is splitting the roles.
Source: Housing Wire

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