“Wells Fargo fires 4 executives over sham-accounts scandal”

The Washington Post reports today:

Wells Fargo announced Tuesday that it had fired four executives as its board of directors nears completion of its investigations into sham accounts set up by employees to allegedly meet sales quotas.

The four executives come from the megabank’s community banking division. They will not receive 2016 bonuses and will forfeit the stock and stock options they were awarded, Wells Fargo said in a statement.

The firings are the latest effort by the San Francisco bank to move beyond a scandal that led to the departure of longtime chief executive and chairman John G. Stumpf. The bank has been slammed by Congress after admitting that it fired 5,300 employees over five years for setting up accounts customers did not want or know about.

The full article is here.

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