ceo John Stumpf also gives up his title as chairman of the company.
Storbanken was in september fined nok 1.5 billion for having opened the multi-million fake bank accounts.
– I have decided that it is best for the company that I go by, ” says Stumpf in a news release Wednesday.
Stumpf has been at the helm since 2007. He has previously stated that he takes full responsibility for “all the unethical methodologies” that was going on.
Milliardfallskjerm
Pressed against Stumpf has been gradually bigger after the news of the widespread triksingen cracked in september.
Senator Elizabeth Warren is among those who publicly has condemned Wells Fargo’s handling of the case.
– You should go by. You should be investigated for offences, ” said Warren to Stumpf during a senatshøring 20. september.
Wells Fargo is the world’s most valuable bank, and has over 70 million customers worldwide, according to the Financial Times and Forbes.
Storbanken is regarded as one of the big four in the u.s. banking industry, together with Bank of America, JP Morgan Case, and Citigroup.
All was hit hard by the financial crisis in 2008, Wells Fargo purchased when the crisis-hit bank Wachovia.
A source said to CNN that Stumpf himself took the decision to go, but that decision was well received by the board of directors.
The now avgåtte Wells Fargo-the boss has agreed to let go of 41 million dollars in income in the future, but he is still not empty-handed, writes Marketwatch.
According to the research institute Equilar, he may stand again with a parachute on a total of 137 million dollars in shares, compensation and retirement. It corresponds to 1,13 billion for the current course.
“Spøkelseskontoer”
Thousands of employees were involved in creating a large number of deposit and kredittkontoer so – called “spøkelseskontoer” – without that the customers knew about it.
Customers ‘ money was put into action into your accounts and it was created fake e-mail addresses. On the way it looked as if they bankansatte selling multiple banking products than they in reality did. So they could also receive higher bonus payments from the employers.
the Practice gave bankkundene increased fees and other expenses associated with the fake accounts, according to the american forbrukerbyrået for financial services (CFPB).
Here is the biggest bankbøtene in recent times
as many as 2 million accounts may have been covered by the scam.
Around 5.300 employees of Wells Fargo have been fired in connection with the case, enlightened, the u.s. attorney in Los Angeles on Thursday last week.
Stumpf has rejected that the scam was organized from the bank’s side.
Must have been fired
the Bank also faces a massesøksmål from former employees who, through a decade should have been fired for not to have broken the law.
Kundetriksingen was so widespread and accepted in the bank’s ranks while it was happening, that the employees who refused to be with – and so received a lower sales results – also got expelled of their parent, according to the lawsuit.
The former employees require 2.6 billion dollars in reparations, the equivalent of 21 billion.
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