Anything L.A. Liberal Magazine
Oct 162016
 
John Stumpf, the embattled CEO Of Wells Fargo retires

John Stumpf, the embattled CEO Of Wells Fargo retires (Photo property of Reuters)

John Stumpf, the CEO and Chairman of Wells Fargo Bank retired. Yeah, right.

The aggressive pursuit of consumer rights by Mike Feuer, L.A. City Attorney, that resulted in a settlement with Wells Fargo, reverberated nationwide and spurred many of the changes we’re seeing today. Read more about Mike Feuer’s success with Wells Fargo.

Consumers nationwide are now recovering their money, Wells Fargo has to pay a high penalty, the State of California severed some of its ties with the bank…. John Stumpf and other high level Wells Fargo executives were interrogated by U.S. Senate and other government agencies.

It may be called retirement, the truth is that the man who either ordered or supported fraud at Wells Fargo Bank has been forced out from his super comfortable positions as both the CEO and the Chairman of the bank in a desperate attempt to save Wells Fargo’s image, if not Wells Fargo itself. He also had to forfeit much of his ill-gotten gains.

Mike Feuer’s, L.A. City Attorney’s, victory over unethical business practices of Wells Fargo is a gift that keeps on giving. Thank you and congratulations, Mr. Feuer!

 

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