$124 million payday for top Wells Fargo exec - News Summed Up

$124 million payday for top Wells Fargo exec


Wells Fargo on Thursday was fined $185 million and admitted to firing 5,300 employees in recent years. Related: Workers tell Wells Fargo horror storiesIt was this kind of internal analysis that led to Wells Fargo's internal goal of selling at least eight financial products per customer. The pursuit of cross-selling was at the heart of the pressure cooker environment described by Wells Fargo employees to CNNMoney. Related: Wells Fargo customers lividWells Fargo did not comment on Tolstedt's compensation, which CNNMoney calculated from regulatory filings. Sen. Elizabeth Warren and four other lawmakers on Monday called for Wells Fargo CEO John Stumpf to testify on what she called a "staggering fraud."


Source: CNN September 12, 2016 20:15 UTC



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