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Wells Fargo Bank CEO Resigns Amid Sales Scandal

The chief executive officer of the second largest U.S. bank will step down in the aftermath of a scandal over its sales practices. San Francisco-based Wells Fargo Bank announced Wednesday that John Stumpf has resigned effective immediately and will be replaced by chief operating officer, Tim Sloan. Stumpf will also relinquish his title as chairman. Wells Fargo was well-known in the banking industry for its ability to sell customers multiple products, such as a new account, a...

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