Wells Fargo strips CEO and 7 top execs of 2016 bonuses

[RKP5637]

Excellent! And MORE is needed!!! Greedy assholes!!!

http://money.cnn.com/2017/03/01/investing/wells-fargo-strips-ceo-bonus-fake-account-scandal/

Wells Fargo's board of directors has stripped CEO Tim Sloan and seven of his top lieutenants of their 2016 bonuses as the bank seeks to hold management accountable for recent stumbles.

The board took further punitive action by chopping in half stock awards that these leaders were due to be paid.
All told, Wells Fargo (WFC) said its management team is losing about $32 million in total compensation, based on these "clawbacks" and what they would have made in 2016 bonuses.

Wells Fargo stressed that the actions are not based on "any findings of improper behavior" by these executives in the board's ongoing investigation into the fake account scandal.

Instead, the board said it acted to "reinforce accountability of the company's leadership."
Wells Fargo has been caught up in scandal since September when the bank admitted to creating as many as 2 million fake accounts and was hit with allegations of mistreating workers.

[Angry Dragon]

1. send them to a for profit prison

[Sherman A1]

2. That would be a great idea

[RKP5637]

5. Americans are constantly F'ed over, they seem to like it, look at the asses they

vote into office. I get so disappointed with the US.

[HughBeaumont]

3. A nice step . . . one that amounts to "Yeah, that'll show . . . those . . . millionaires . . . "

Meanwhile, the two bastards that concocted the scheme that got Wells and some 5,000 lower-level employees IN trouble in the first place pretty much walked away from WF with nine digits worth of wrist slaps, finger-wags and wasted time in front of congressional committees.

And the salespersons got fired.

Republicans never get to lecture ANYone EVER again about "personal responsibility".

[lpbk2713]

4. 5300 WF employees were fired for doing what was expected of them.

These poor babies didn't get a little extra in their already
bloated paycheck and they got to keep their jobs.

Link: https://www.washingtonpost.com/news/wonk/wp/2016/09/13/wells-fargo-fired-5300-workers-for-illegal-sales-push-executive-in-charge-retiring-with-125-million/?utm_term=.2971ac39cf7b