John Stumpf

Stumpf agreed to pay a $2.5 million civil penalty to resolve the matter, allowing him to avoid admitting or denying the SEC’s charges.

Federal regulators have slapped former Wells Fargo CEO John Stumpf with a $17.5 million fine for his role in the bank’s sales practices scandal

Believe it or not, there actually are right and wrong ways of sitting on your bike.

A different Wells Fargo chief executive met a similar kind of anger from Congress on Tuesday, with politicians from both major parties saying they feel the bank has done little to change its culture since a scandal over its sales practices. Tim Sloan appeared in front of the Senate Banking Committee in Washington, D.C., about a year since his predecessor...

Lawyers suing Wells Fargo on behalf of aggrieved customers say the bank may have opened about 3.5 million unauthorized accounts, far more than the figure bank and regulators disclosed last year.

The problems at Wells Fargo and its overly aggressive sales culture date back at least 15 years, and management had little interest in dealing with the issue until it spiraled out of control resulting in millions of accounts being opened fraudulently, according to an investigation by the company’s board of directors. The bank’s board also clawed back another $75 million...

It’s going to get worse for Wells Fargo before it gets better. In the wake of the biggest scandal in the bank’s 164-year history, distrustful customers are not opening as many checking accounts or applying for credit cards, and branch visits and meetings between customers and bankers are down, too. Wells has also been hit with several lawsuits from customers,...

A furious congressional committee grilled Wells Fargo CEO John Stumpf on Thursday, the latest group to express their ire over the bank’s shady practices, NBC News reported. Stumpf sat before the House Financial Services Committee to answer questions after Wells Fargo was fined a record $185 million this month for opening fee-generating accounts without customers’ authorization in order to meet...

Wells Fargo CEO John Stumpf stepped down from his position on the Federal Reserve Advisory Council Thursday, according to a statement from the San Francisco Federal Reserve. Wells Fargo told CNBC that Stumpf “made a personal decision to resign” as the council’s Twelfth District’s representative. “His top priority is leading Wells Fargo,” the company said. Earlier this week, Stumpf appeared...