Cases like Wells Fargo's creation of phony accounts for customers highlight the need for strong banking regulation, Treasury Secretary Jack Lew says. (cnbc.com)
The beleaguered executive retired Wednesday afternoon as investors, lawmakers, and consumers grew increasingly frustrated with how Stumpf handled the fallout of the bank's phony account scandal. (fortune.com)
The bank reached a $ 190 million settlement with the Consumer Financial Protection Bureau, the Office of the Comptroller of the Currency and a Los Angeles prosecutor in September 2016 over employees opening phony accounts in customers» names without their permission to artificially hit internal targets. (finance.yahoo.com)