Sen. Elizabeth Warren, D-Mass., sharply criticized the new acting head of the Office of the Comptroller of the Currency as part of a report Thursday detailing how industry executives and lobbyists have joined the Trump administration.
Wells Fargo's David Carroll, who had pay clawed back after the bank's fake-accounts scandal, will retire and be succeeded by Jonathan Weiss as wealth and investment management chief.
The rising regional player has also appointed new chairs for four board committees as it prepares for the retirement of several long-serving directors.
While many shareholders are by now largely immune to the transgressions of the U.S. banking sector, Wells Fargo’s recent phony account scandal has given even the most hardened cynics pause.
The company appointed a representative of Stilwell Group to its board. Stilwell, meanwhile, agreed to back Delanco's board nominees and refrain from pushing for the company's sale.
Investors concerned about the impact on banking of climate change, the pay gap and ethics matters are pushing back against a coalition of the heads of the biggest U.S. banks and other public companies that wants to limit small investors’ access to proxy ballots.
Proposals to split the chairman and CEO roles at banks have rarely succeeded. But new developments — including a proposal to require separate roles for the next generation of managers — are helping concerned shareholders slowly make inroads.
Banks like TD and U.S. Bancorp are suddenly taking public shots from current and former employees critical of their sales practices, a sign that the industry has not put behind it the questions raised months ago by the phony-accounts scandal at Wells.
