1. In Wells Fargo's Board `Refreshment,' There Are No Spa Treatments

    In Wells Fargo's Board `Refreshment,' There Are No Spa Treatments

    "To use the term refreshment is to suggest that this is just business as usual," Nell Minow, vice chair of consultant ValueEdge Advisors, which counsels big investors on corporate governance , said in a telephone interview. "But it's really a euphemism to make it sound like they're just fluffing up the pillows ...

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    1. We have made significant improvements over the past year to our governance.
    2. The firm's board of directors, during the period of compliance breakdowns, did not meet supervisory expectations.
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