Wells Fargo CEO change: but business as usual

Investigations into business practices at the giant US bank Wells Fargo are continuing today despite the resignation of its CEO John G Stumpf earlier in the week. His departure was prompted by continuing allegations of mis-selling by the bank including the creation of millions of fake customer accounts. Stumpf’s exit has produced a political furor over the estimated $130m he took with him as a leaving payment, whilst his his replacement as CEO, Timothy J Sloan, has already been criticized for offering little in the way of change.

Nomi Prins, Investigative Journalist and Author of ‘All the Presidents’ Bankers’ joined Share Radio’s Steve Clarke on the line all the way from the US to discuss Wells Fargo’s ongoing troubles. Here is a direct audio link.

Also see:  What’s next for Wells Fargo? Here are some of the shoes that still could drop

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