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Wells Fargo's CEO forfeits $41 million in fight to keep his job

Posted on September 28, 2016

The U.S. Federal Reserve is expected to keep interest rates unchanged on Wednesday amid tepid inflation and recent weak economic data, but could signal an increased likelihood of a hike by the end of the year.

Wells Fargo & Co. Chief Executive Officer John Stumpf, fighting to keep his job amid a national political furor, will forgo more than $41 million of stock and salary as the bank’s board investigates how employees opened legions of bogus accounts for customers.

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