Comment on Making them pay: Wells Fargo orders CEO John Stumpf to pay back $41 million

Making them pay: Wells Fargo orders CEO John Stumpf to pay back $41 million

FILE - In this Jan. 18, 2011 file photo, a pedestrian walks by a Wells Fargo bank branch in Los Angeles. (Credit: AP) WASHINGTON — Wells Fargo says CEO John Stumpf and the executive who ran the bank’s retail banking division will forfeit tens of millions of dollars in bonuses as the bank tries to stem a scandal over its sales practices. The board of directors at the nation’s second-largest bank said Tuesday that Stumpf will forfeit $41 million in stock awards, while former retail banking executive Carrie Tolstedt will forfeit $19 million of her stock awards, effective immediately.

 

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