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Former Wells Fargo & Co. chief executive John Stumpf on Friday agreed to pay $ 2.5 million to settle civil lawsuits related to his role in the bank’s fake accounts scandal, while regulators have sued another Wells executive for fraud.
Mr Stumpf, who resigned his senior post in 2016, has neither admitted nor denied the claims of the Securities and Exchange Commission, which accused him of misleading investors about the success of the company’s business. Wells Fargo Community Bank. Mr Stumpf had previously been excluded from the banking sector …
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