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    Back to Press Play with Madeleine Brand

    Press Play with Madeleine Brand

    Is Wells Fargo CEO Stumpf getting off easy?

    Wells Fargo’s board will force CEO John Stumpf to give up $41 million in stock options. Wells Fargo employees created millions of fraudulent accounts for customers without their knowledge under Stumpf’s watch, crossing all kinds of ethical boundaries, not to mention being illegal.

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    By Madeleine Brand • Sep 28, 2016 • 1 min read

    Wells Fargo’s board will force CEO John Stumpf to give up $41 million in stock options. Wells Fargo employees created millions of fraudulent accounts for customers without their knowledge under Stumpf’s watch, crossing all kinds of ethical boundaries, not to mention being illegal. So for Massachusetts Senator Elizabeth Warren, that financial punishment does not go far enough. Warren thinks Stumpf should resign and face criminal charges. But remember when Wall Street banks decimated the entire American economy? None of those CEOs were arrested or forced to give up their millions.

    The full episode

    2 of 5
    Tzipi Livni mourns Shimon Perez, who shaped modern Israel
    1. 0:31Peres protege Tzipi Livni mourns the man who shaped modern Israel
    2. 8:56Is Wells Fargo CEO Stumpf getting off easy?You’re reading this
    3. 18:48Are videos desensitizing us to police shootings of black men?
    4. 28:42New Netflix doc examines the Amanda Knox case from all sides
    5. 44:51What would life on Mars be like?
    • https://images.ctfassets.net/2658fe8gbo8o/AvYox6VuEgcxpd20Xo9d3/769bca4fbf97bf022190f4813812c1e2/new-default.jpg?h=250

      Madeleine Brand

      Host, 'Press Play'

    • https://images.ctfassets.net/2658fe8gbo8o/AvYox6VuEgcxpd20Xo9d3/769bca4fbf97bf022190f4813812c1e2/new-default.jpg?h=250

      Matt Holzman

      Producer, 'The Document'

    • https://images.ctfassets.net/2658fe8gbo8o/AvYox6VuEgcxpd20Xo9d3/769bca4fbf97bf022190f4813812c1e2/new-default.jpg?h=250

      Anna Scott

      Former KCRW Housing and Homelessness Reporter

    • KCRW placeholder

      Jolie Myers

      Managing Producer, 'Press Play'

    • KCRW placeholder

      Gretchen Morgenson

      New York Times

      News

    The full episode

    2 of 5
    Tzipi Livni mourns Shimon Perez, who shaped modern Israel
    1. 0:31Peres protege Tzipi Livni mourns the man who shaped modern Israel
    2. 8:56Is Wells Fargo CEO Stumpf getting off easy?You’re reading this
    3. 18:48Are videos desensitizing us to police shootings of black men?
    4. 28:42New Netflix doc examines the Amanda Knox case from all sides
    5. 44:51What would life on Mars be like?
    Back to Press Play with Madeleine Brand