NEW YORK (AP) " 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. Sloan has been with Wells Fargo for 29 years. Stumpf's end at Wells Fargo comes a little over a month after the bank was fined by California and federal regulators $185 million over its sales practices. Stumpf, a 34-year veteran of the bank who took over as CEO in 2007, had previously gained acclaim for navigating Wells Fargo through the financial crisis and keeping it free of scandal. Wells Fargo is scheduled to report its quarterly results Friday morning.

Source: New Zealand Herald October 13, 2016 04:19 UTC