Tim Sloan

After resigning last year under pressure from federal policymakers, the former executive received no severance benefits or annual incentive award.

It’s been a long tail for the firm that began with the 2016 revelation that employees had opened millions of fake accounts to meet sales goals.

“The bank had better tools and systems to detect employees who did not meet unreasonable sales goals than it did to catch employees” engaging in misconduct, the regulator said.

The former general counsel has signaled interest in staying on.

The JPMorgan chief executive said he couldn't understand why Wells Fargo could have CEO Tim Sloan step down without a successor ready to go.

With the board still conducting a hiring search, the strategy for fixing past problems and returning to revenue growth remains in flux.

PR campaigns won’t be enough to salvage the bank’s reputation after a series of scandals. Instead, it should look into adopting a new name, among other crucial steps.

Since Wells Fargo’s phony-accounts scandal broke in 2016, the bank has appeared contrite in public. In private, it’s a different story.

The bank's decision to select its general counsel as successor to Tim Sloan, albeit on a temporary basis, focused attention on its frayed relationships with the Federal Reserve and the OCC.

The chairwoman of the House Financial Services Committee said Tim Sloan's resignation as CEO was "long overdue" but that other executives and directors should be removed as well.