Wells Fargo’s Stumpf Quits Fed Council Amid Lawmaker Pressure

  • Stumpf was San Francisco Fed appointee to advisory group
  • Move comes after senators urge rejection of his reappointment

Lawmakers Demand Accountability From Stumpf

Wells Fargo & Co. Chief Executive Officer John Stumpf resigned from the Federal Reserve’s Federal Advisory Council as U.S. lawmakers stepped up pressure after revelations that the bank’s employees had opened two million allegedly bogus client accounts.

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