Wells Fargo boss John Stumpf steps down
Wells Fargo's chief executive, John Stumpf, is to resign immediately in the wake of a scandal over its sales practices, the bank has announced.
The bank is investigating how two million accounts were opened without customers' permission.
Last month, it said Mr Stumpf, who was paid $19.3m last year, would not receive a salary during the inquiry.
He will be succeeded by the bank's current president and chief operating officer, Timothy Sloan.
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