Stumpf Pay Surrender Buys Time But Lawmakers Say It’s Not Enough

  • CEO agrees to forgo $41 million as board investigates scandal
  • Senator Warren says actions ‘nowhere near real accountability’

What is the Endgame for Wells Fargo CEO Stumpf?

John Stumpf’s decision to forgo $41 million in pay improves the chances for Wells Fargo & Co.’s embattled leader to defuse the bank’s bogus-account scandal, analysts say, though some lawmakers are calling for the lender to do more.

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