A federal judge has given preliminary approval to the proposed settlement of a lawsuit under which insurance companies have agreed to pay $240 million for losses the San Francisco bank incurred from the widespread opening of fake accounts.
Nearly a dozen shareholders disrupted opening remarks at Wells Fargo’s annual meeting in Dallas on Tuesday, pressing executives to answer for a series of scandals that have rocked the bank.
The Massachusetts Democrat said the agency could have used existing statutory authority to object to the bank’s appointment of now-departed CEO Tim Sloan.
