Dear MoveOn member,
The Wells Fargo executive who oversaw the company's illegal scheme to charge
unknowing customers for fake accounts is about to walk away with $125 million
in total compensation.1
Don't let Wells Fargo reward this kind of deceit. Will you join me in demanding
that the Wells Fargo executive who oversaw this misconduct return her bonuses
and compensation?
Wells Fargo created more than two million fake deposit and credit-card
accounts, and then charged customers for them—without their consent. Yet, the
Wells
Fargo executive who oversaw this misconduct isn't being fired; she's
retiring—and walking away with almost $125 million in total compensation. Don't
reward
this kind of deceit. Take responsibility and tell the executive to give back
this compensation.
Sign Lisa's petition
In early September, the Consumer Financial Protection Bureau (CFPB) found that
Wells Fargo employees, facing pressure to meet unrealistic sales quotas,
opened more than two million deposit and credit card accounts for customers who
never asked for them.2
The CFPB and other agencies fined Wells Fargo a total of $180 million for these
illegal acts. But the executive in charge of this division at the bank isn't
being fired—she's "retiring," and walking away with nearly $125 million in
stock, options, and other compensation!3
Wells Fargo must take responsibility and not reward widespread, illegal
behavior that scammed its own customers.
Click here to add your name to this petition, and then pass it along to your
friends.
Thanks!
—Lisa Donner, Americans for Financial Reform
Sources:
1. "Wells Fargo Exec Who Headed Phony Accounts Unit Collected $125 Million,"
Fortune, September 12, 2016
http://act.moveon.org/go/5668?t=5&akid=169720.33406081.uCPnjB
2. "Consumer Financial Protection Bureau Fines Wells Fargo $100 Million for
Widespread Illegal Practice of Secretly Opening Unauthorized Accounts," Consumer
Financial Protection Bureau, September 8, 2016
http://act.moveon.org/go/5667?t=7&akid=169720.33406081.uCPnjB
3. "Wells Fargo Exec Who Headed Phony Accounts Unit Collected $125 Million,"
Fortune, September 12, 2016
http://act.moveon.org/go/5668?t=9&akid=169720.33406081.uCPnjB
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