Wells Fargo has not done enough to address the problems brought to light in its $190 million settlement over secret accounts, former FDIC Chair Sheila Bair told CNBC on Tuesday.
“If you’re going to use clawbacks, this would be the situation,” Bair said, referring to possibly recouping any compensation fired employees received as a result of creating fee-generating accounts for unsuspecting customers in order to reach sales and bonus targets.
According to Fortune, Carrie Tolstedt, the Wells Fargo executive in charge of the unit where employees opened more than 2 million largely unauthorized customer accounts, retired over the summer with an exit package worth $124.6 million.
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