Former Wells Fargo Exec Loses $15 Million In Compensation

Wells Fargo’s board ordered former Wells Fargo chief executive, Timothy Sloan to return $15 million in compensation. Mr. Sloan resigned last year without a severance package. Mr. Sloan reportedly received $1.6 million in compensation last year. He was replaced

by Charles Scharf, who took over in October. Mr. Scharf received $23 million in compensation in 2019. The bank is now on its third CEO and second chairman since the fraudulent accounts scandal came to light around September 2016.