utrage grows as Wells Fargo executives are spared the chopping block after 5,300 employees were fired for creating millions of fake accounts Staff pushed customers into taking extra products or created extra accounts without their knowledge to hit sales targets, probe found Some were fined overdraft fees after money was moved without consent Wells Fargo says it has fired 5,300 staff in recent years over the scandal But CEO John Stumpf was paid $19.3million in 2015 and has been given several 'Banker of the Year' awards from industry organizations Executive David Carroll was paid $9.05million for overseeing 'growth' Consumer watchdog fined the bank a record $185million on Thursday Wells Fargo has also been ordered to repay $5million to customers Up to 2million deposit accounts were created without customers knowing
A customer fraud probe cost 5,300 Wells Fargo employees their jobs - but regulators stopped short of pointing any fingers at the bank's executives
EO John Stumpf, (left) who has received several industry awards, was paid $19.3million in 2015. David Carroll (right) was paid $9.05million because his department oversaw growth
Posts: 5374 | From: sepedat/sirius | Registered: Jul 2012
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Yet those at the top walk not only walk free but get paid, paid big. Same thing happened with the bankstas and the 2008 bailouts. Not one of the CEOs of the financial institutions and entities like the big bond rating agencies who aided various fraudulent activity has ever done any jail time. Meanwhile all the toxic assets of the mortgage balloon scam were shifted to the taxpayers to pay.
Posts: 5905 | From: The Hammer | Registered: Aug 2008
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