"A piece of shit": Government report on Wells Fargo corruption shows top executives' direct complicity in millions of acts of fraud

Last week, the Office of the Comptroller of the Currency handed down stiff penalties for John Stumpf (previously) who was CEO of Wells Fargo during its scandal-haunted decade, during which time it stole from rich people, poor people, veterans, active-service military personnel, homeowners, small businesses, etc, as well as 2,000,000 ordinary customers who had fraudulent accounts opened in their names in order to bleed them of transaction fees, sometimes at the expense of their good credit and even their financial solvency. Under the deal, Stumpf will have to pay $17.5m in fines and cannot ever work in finance again (don't worry, he's still a multi-multi-multi millionaire). Read the rest

Wells Fargo's ex-CEO will pay $17.5m in fines and never work in banking again (but he is still very, very rich)

When John Stumpf (previously) was CEO of Wells Fargo, he oversaw a string of scandals including literally millions of acts of bank fraud, and still managed to walk out of the business with millions in bonuses and no criminal prosecutions. Read the rest

Wells Fargo board to force fraud-implicated former execs to repay $75m in bonuses

Former CEO John Stumpf (a major villain in the subprime scandal) previously lost $41m out of the $200m he made overseeing a multi-year fraud that stole from 2,000,000 of the bank's customers -- now he will have to repay another $28m. Read the rest