Wells Fargo fires four executives amid probe into sales practices

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By Arathy S Nair

<span class="articleLocation”>Wells Fargo & Co said on Tuesday it
fired four executives in its community banking business as part
of an independent investigation into its sales practices.

Wells Fargo has been under pressure to show it is holding
its management accountable after government investigations found
that some of its employees opened as many as two million
accounts without customers’ knowledge.

The scandal led to the departure of former Chairman and
Chief Executive John Stumpf last October.

Wells Fargo said on Tuesday the board’s investigation was
ongoing and was expected to be completed before the company’s
annual shareholder meeting in April.

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