Wells Fargo is considering taking back some of CEO John Stumpf's compensation

Wells Fargo’s board of directors is leaning towards clawing back stock-based compensation from Wells Fargo CEO John Stumpf and former head of community banking Carrie Tolstedt, according to the Wall Street Journal.

The nearly $50 million in stock-based compensation given to Tolstedt while she oversaw the division that created 2 million credit and debit card account for customers without their knowledge had come under fire recently, especially during Stumpf’s testimony before the Senate Banking Committee.

More to come…

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