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Wells Fargo CEO resigns from Federal Reserve advisory panel following fake-accounts scandal

L.A. Times Friday, 23 September 2016 ()
Wells Fargo & Co. Chief Executive John Stumpf has resigned from a Federal Reserve advisory panel, the latest fallout from the banking giant’s fake-accounts scandal.

Stumpf’s move came after five senators called for him not to be reappointed to the Federal Advisory Council, a 12-member body that...
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News video: Wells Fargo CEO Forfeits Millions in pay as Scandal Unfolds

Wells Fargo CEO Forfeits Millions in pay as Scandal Unfolds 01:33

Wells Fargo CEO John Stumpf is giving up $41 million in unvested equity. The clawback relates to the still unfolding scandal over millions of fake accounts set up at the bank. Also Senators will be looking to see if Wells Fargo ( ) targeted senior citizens when setting up those accounts. Takata is...

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