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have they lost? Losing the status of fiscal agent for the State of California, is a major loss for Wells Fargo
have they lost? Losing the status of fiscal agent for the State of California, is a major loss for Wells Fargo. Employees did what they were told to save their jobs, and ended up losing their jobs anyway. What a horrible disservice Wells Fargo fraudsters have provided.
In your analysis, I see Mr. Stumpf, the CEO, is still employed though he will, as you state, lose 40 million in unvested stock awards, possibly his bonus and a reduction in salary. Why is he still employed? Any other person who commits fraud is fired. I see they are asking for him to resign, but he committed fraud, all bets are off. Would you ever trust Mr. Stumpf or Wells Fargo again? I wouldn’t.
Expert Solution
The company just fired the embattled C.E.O and replaced him with Tim Sloan who is the current president and chife operating officer. Mr. Stempf will not be getting any payments due to the fraudulent activities that happened under his watch. i can now trust the company in offering financial services as it used to. the employees who opened the sham accounts have also been fired and it has been made impossible for them to work in a bank ever again. It is now promising that the company will continue with their work as it used to.
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