Wells Fargo & Co., the biggest U.S. originator of mortgages, will soon see the departure of three members of its board of directors — including its chairman.
The shakeup follows a fake account scandal that led to the ouster of the San Francisco-based company’s chairman and chief executive officer, John Stumpf.
While the board named Stephen Sanger chairman at the time of the October 2016 shakeup, more scandals have come to light since then — prompting more board changes.
Source: Mortgage Daily
