Description: The U.S. government announced Thursday that former Wells Fargo CEO John Stumpf has been banned from ever working at a bank again and will pay $17.5 million for scandals in which millions of fake accounts were set up to meet sales quotas.
Source: CNBC.com – video report
Date: Jan 23, 2020
Questions for discussion:
- What are the implications for the firm and investors going forward?
- What would you advise investors at this time?