1. Why Wells Fargo’s Executives Will Keep Their Bonuses, Even After Fake Accounts Scandal

    Why Wells Fargo’s Executives Will Keep Their Bonuses, Even After Fake Accounts Scandal

    Last week, Wells Fargo CEO John Stumpf testified before the Senate Banking Committee after the bank paid fines for creating over two million fake customer accounts to boost their sales growth statistics. Stumpf, under fire from Senators demanding that the bank claw back executive bonuses as punishment for the scandal, insisted that any such decision would be made by a committee of the board of directors that handles compensation issues ...

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    1. To not invoke some degree of clawback for yourself and others involved would be committing malpractice from the standpoint of public relations.
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