Relevant:
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- Wells Fargo fined $185 million for creating 2 million fake bank accounts; Fires over 5,000 Employees
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- Wells Fargo CEO John Stumpf Called to Account By US Congress
2016-09-14 — npr.org
A federal agency used her Wells Fargo unit as a cautionary tale, imposing the largest fine it's ever levied. Her bank fired some 5,300 employees for acting "counter to our values." But questions are now circulating about Carrie Tolstedt, the unit's leader, who's set to depart her post with $124.6 million in stock and options, and whose compensation for the five years targeted by the Consumer Financial Protection Bureau included a yearly incentive bonus of $5.5 million in stock, to go along with her base pay and other bonuses.
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As for the size of Tolstedt's holdings, Folk noted that she was at the company for nearly 30 years. When we asked about a potential "claw back" of millions in compensation for Tolstedt, Folk said Wells Fargo isn't talking about that today.
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