But it may not be enough to spare Stumpf another lashing when he returns to Capitol Hill on Thursday. Former community banking chief Carrie Tolstedt will forgo about $19 million in unvested stock, and agreed not to cash in outstanding options during the review, the lender said Tuesday in a statement. Neither Stumpf nor Tolstedt will get a bonus for this year. The decision “should buy the CEO more time to deal with the ongoing scandal,” Brian Kleinhanzl, an analyst at Keefe, Bruyette & Woods, said in a note Wednesday to clients. “We believe Wells Fargo will be able to manage through the scandal with the current executive team intact.”

Source: thestar September 28, 2016 17:03 UTC