The Securities and Exchange Commission charged former Wells Fargo CEO John Stumpf and retail banking head Carrie Tolstedt with misleading investors, the watchdog announced Friday.
The agency claimed that the former executives misled investors about the widespread sales practice problems at the bank. Stumpf agreed to pay a $2.5 million penalty to settle the charges, while the SEC will litigate fraud charges against Tolstedt in court.
A lawyer for Stumpf did …
The post RTR: SEC charges former Wells Fargo CEO & top executive with misleading investors over sales practices appeared first on The Loadstar.
Source: The Loadstar