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Wells Fargo Executives Forced to Pay Back $75 Million over Fake Accounts Scandal

San Francisco, April 17 (RHC)-- In the United States, two Wells Fargo executives are being forced by the company’s board to pay back $75 million in compensation over a massive scandal in which Wells Fargo workers created 2 million fake accounts in order to meet grueling sales targets.

Wells Fargo former CEO John Stumpf and the former head of community banking, Carrie Tolstedt, are forced to return a combined $75 million in pay, making it the largest "clawback" in U.S. banking history.

The San Francisco-based international banking and financial services holding company has fired a staggering 5,300 low-level workers over the creation of the fake accounts.  People nationwide also continue to protest Wells Fargo over its role in funding the $3.8 billion Dakota Access pipeline.

Edited by Pavel Jacomino
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