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Wells Fargo shareholders file class action, allege bank execs ‘concealed’ source of record sales

Jessica Karmasek Sep. 29, 2016, 2:23pm

On Tuesday, the bank, no doubt feeling the pressure from federal lawmakers and others, announced that the independent directors of its Board of Directors have launched an investigation into Wells Fargo’s retail sales practices and related matters. CEO John Stumpf will forfeit his salary and awards -- valued at more than $41 million -- amid the independent investigation.