Wells Fargo highlights the actions taken in response to sales practices since Sept. 8, 2016
The document shares the corrective and proactive actions taken over the past six months, meeting the company’s goal to keep all stakeholders informed.
In an effort to keep investors and the public informed about how Wells Fargo is addressing the sales practices issue behind the regulatory and legal settlements announced Sept. 8, 2016, the company has compiled a comprehensive summary of actions taken (PDF) through the end of February 2017.
It also announced the dates for key upcoming corporate communications and events, including the 2017 Annual Meeting of Stockholders, which is scheduled for April 25, 2017, in Ponte Vedra Beach, Florida.
The summary provides background and context for the company’s ongoing efforts to make things right and restore trust. It highlights the timing for recent actions and provides details on executive accountability announcements, management changes, the elimination of product sales goals and the implementation of a new compensation structure in the retail bank, strengthened oversight and risk management, and other efforts.
“The past six months have been a challenging period for Wells Fargo, but we have worked diligently to address the reasons behind the sales practice settlement to ensure they never happen again,” said CEO Tim Sloan. “We know this work is not finished, and we remain committed to being transparent as we continue to put our full effort behind our goal to restore trust in Wells Fargo for all of our stakeholders.”