Banking

Banking

Wells Fargo could take back more than $50 million from embattled CEO

But whenever John Stumpf, 63, leaves his post atop the San Francisco banking giant, he could walk away with nearly $195 million in cash, stock and other compensation, a review of the bank’s regulatory filings show. But he also could lose tens of millions of dollars because of the still-unfolding fake-accounts scandal, as could the retiring executive who headed the bank’s retail operations.

Banking

Wells Fargo CEO to testify that he is ‘deeply sorry’

The chief executive of Wells Fargo, John G. Stumpf, will say in testimony Tuesday morning that he is “deeply sorry” for selling customers unauthorized bank accounts and credit cards and that he takes “full responsibility” for the unethical activity, according to a copy of testimony prepared for a Senate Banking Committee hearing.