Wells Fargo CEO John Stumpf will forfeit 2016 salaries including bonuses

The fallout from the Wells Fargo's fake account scandal may have finally reached the top executives.
CEO John Stumpf will forfeit almost all of his 2016 salary. That includes his bonus and $41 million dollars in stock awards.

Also, Carrie Tolstedt who headed the division that created the fake accounts will step down immediately.

She was scheduled to retire at the end of the year and she will not receive any severance or bonus.

Over a five-year period 5,300 Wells Fargo employees were fired for opening fee generating accounts without the customers' knowledge.

Senator Elizabeth Warren hammered Stumpf at a senate hearing last week calling him 'Gutless.'
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