Justin Sullivan/Getty Images(NEW YORK) — Wells Fargo fired four senior managers Tuesday in connection with an ongoing probe into the banking company’s sales practices.
In September, the company was hit with a $185 million fine from the U.S. government for opening over 1.5 million deposit and credit card accounts without permission from customers. Wells Fargos said Tuesday that the board had unanimously voted to oust the current or former senior managers in community banking as the investigation into the scandal continues.
Claudia Russ Anderson, former community bank chief risk officer, was among those who were fired, as well as Pamela Conboy, Arizona lead regional president; Shelley Freeman, former Los Angeles regional president and now head of consumer credit solutions; and Matthew Raphaelson, head of community bank strategy and initiatives.
Wells Fargo said none of the executives would receive bonuses for 2016 and will forfeit unvested equity awards and vested outstanding options.
The investigation is ongoing, Wells Fargo said, but the company said it is expected to be completed before Wells Fargo’s annual meeting of stockholders in April.
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