Ex-Wells Fargo CEO John Stumpf Resigns From Boards Of Chevron, Target

Ex-Wells Fargo CEO John Stumpf Resigns From Boards Of Chevron, Target

John Stumpf, who “retired” last week from his position as CEO of Wells Fargo due to the company’s fake account scandal, is also taking the opportunity to “retire” from board seats. Oil company Chevron and retailer Target announced today in filings with the Securities and Exchange Commission that Stumpf would be stepping down from their respective boards, both of which he joined in 2010. [More]

Tracy O

Woman Returns $380 Bank ATM Spat Out Of Deposit Slot Instead Of Pocketing It

When there’s free money involved, there’s always going to be the temptation to take it, even if you know it’s not right. But yet another good consumer has done an honorable deed, this time by returning almost $400 that unexpectedly shot out of a drive-thru bank ATM. [More]

Did Morgan Stanley Advisors Push Customers Into Unneeded Loans?

Did Morgan Stanley Advisors Push Customers Into Unneeded Loans?

If we’ve learned anything from Wells Fargo’s recent fake account fiasco, it’s that high-pressure sales tactics can lead to unethical and sometimes illegal behavior. But did similar sales quotas and incentives lead Morgan Stanley employees to push customers into unneeded loans? That’s a question regulators in Massachusetts aim to answer.  [More]