Wells Fargo CEO John Stumpf is out

Wells Fargo CEO on Capitol Hill

Embattled Wells Fargo CEO John Stumpf will retire effective immediately, a association announced Wednesday, imprinting a overwhelming rain for one of a banking industry’s many absolute figures.

The Wells Fargo (WFC) trainer is out in a arise of a inhabitant conflict that erupted after regulators indicted a bank of formulating more than dual million feign bank and credit label accounts. The association certified to banishment 5,300 workers over several years.

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