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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

Link: https://www.cnbc.com/2020/01/23/former-wells-fargo-ceo-stumpf-barred-from-industry-to-pay-17point5-million-over-sales-scandal.html

Questions for discussion:

  • What are the implications for the firm and investors going forward?
  • What would you advise investors at this time?

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