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October 5:
California's attorney general opens an investigation into possible identity fraud
related to the fake accounts scandal.
October 12:
CEO John Stumpf steps down. The company announces he will retire effective
immediately. Tim Sloan to replace him.
November 3:
SEC probe revealed. A new public filing from the bank discloses that the
Securities and Exchange Commission is investigating the bank for issues related
to the creation of as many as 2 million fake accounts.
December 13:
Wells Fargo is punished by federal regulators for actions unrelated to the fake
accounts. The bank is dinged for failing to comply with certain provisions of
Dodd-Frank, the post-2008 law meant to better regulate big banks and protect
consumers.
December 31:
WFB stock finishes year at $55, up 4% on year start price.
2017
January 23:
Wells Fargo acknowledges potential worker retaliation. The bank says there are
signs it retaliated against workers who tried to blow the whistle on the fake
accounts.
February 20:
Four senior bank employees are fired. The employees either worked or used to
work in Wells Fargo's community banking division, which is at the center of the
fake account scandal.
March 27:
Federal agency accuses Wells Fargo of "egregious," "discriminatory and illegal"
practices. In an unusual move, a top federal banking regulator severely
downgrades Wells Fargo's community lending rating. The decision stems from
factors beyond the fake account scandal.
March 27:
