Tim Sloan

The fees affected hundreds of thousands of customers and the total cost could climb to more than $180 million, according to a report in The Wall Street Journal.

Total broker head count dropped by 173 from the prior quarter, according to the wirehouse.

Advisor exodus from beleaguered firm shows no sign of abating in 2018

Investors may support the pay hikes, but protesters says the bank owes customers more.

Fourth-quarter profits ticked up a modest 1% year-over-year to $659 million even as number of advisors dropped 2%.

Last year, the Democratic senator argued successfully for the termination of Sloan's predecessor as chief executive, John Stumpf.

“We’ve been very focused on opening every drawer and turning over every rock in the company,” CEO Tim Sloan said.

Attorneys are preparing written objections to the settlement, which they may file in the next 15 to 30 days.

Executives at the embattled bank made clear Thursday that they are not discarding its long-standing strategy of selling additional products to existing customers.

On the same day, the OCC faulted the bank for engaging in an “extensive and pervasive pattern” of discriminatory and illegal lending practices for years.