1. Clawing Back Banker's Pay at Wells Fargo Harder Than it Looks

    Clawing Back Banker's Pay at Wells Fargo Harder Than it Looks

    Clawing back bankers' pay at Wells Fargo harder than it looks Caleb Melby and Yalman Onaran, (c) 2016, Bloomberg (c) 2016, Bloomberg Members of the Senate Banking Committee are demanding that Wells Fargo claw back pay from Carrie Tolstedt, the executive whose community banking unit created 2 million unauthorized customer accounts. They're not likely to get as much as they want. At a hearing in Washington on Tuesday, senators cited figures eclipsing $100 million...

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  2. Quotes

    1. The Wells Fargo board is actively engaged in this issue.
    2. Clawbacks are easier said than done.
    3. I would guess that there are some situations where the board concludes that the expense and energy of a potential legal battle is simply not worth the potential recovery.
    4. Malus is applied frequently, but clawbacks are very rare.
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