Seattle Times, Wells Fargo Scam, “bank’s relentless pressure on employees to meet its unrealistic goals, which included “hazing-like abuse.””
When big companies do wrong, it’s rarely the big boss who pays the price.
But on Thursday, Wells Fargo’s former chief executive John G. Stumpf was fined $17.5 million — the largest individual fine in the history of the bank’s main federal regulator — for his role in a toxic sales culture that foisted unwanted products and sham bank accounts on millions of customers.