Wells Fargo CEO Tim Sloan Got 5% Pay Raise In Spite Of Scandals | Fortune

In spite of the scandals upon scandals that Wells Fargo dealt with last year—and continues to deal with—the bank submitted a security filing Wednesday which revealed that CEO Tim Sloan received a 5% pay raise between 2017 and 2018, totaling to an $18.4 million salary.

Sloan’s compensation, which Reuters reports included a $2 million bonus for factors including the bank’s financial performance, was disclosed the day after he was grilled by Congress during his testimony claiming that Wells Fargo has become a better institution following the 2016 revelation that employees had opened more than two million accounts for customers without their consent.

In 2018, the bank was fined $1 billion to settle federal probes into mistreatment of customers, $575 million to settle with state-level claims, and was told by the Federal Reserve to stop growing.

Source: Wells Fargo CEO Tim Sloan Got 5% Pay Raise In Spite Of Scandals | Fortune

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