Success: Wells Fargo CEO Steps Down After Scandal

Wells Fargo Building

Target: Community of activists who pressured the CEO and Chairman of Wells Fargo to resign

Goal: Celebrate bank executive’s resignation in light of alleged illegal and unethical activity.

Wells Fargo Chairman and CEO John Stumpf has announced his intentions to resign from both roles, effective immediately. Stumpf’s departure comes after he faced enormous backlash as a result of a scandal concerning the creation of fake accounts.

The scam was exposed in a report by a Los Angeles Times investigation. According to the report, compiled through employee testimony, Wells Fargo employees were threatened and forced to create almost 2 million false accounts without authorization from customers.

Wells Fargo was roundly condemned for these alleged illegal and unethical tactics, leading to calls for Stumpf’s resignation, as seen in this ForceChange petition. Though Stumpf will retain his stock, he is not due to receive any severance, meaning that the former executive will not receive a “golden parachute” as many other former executives have.

Sign the petition below to commend the community that pressured Stumpf to step down over his alleged misdeeds and remove himself from his position.


Dear activist community,

I am writing to applaud the successful campaign that pressured Wells Fargo CEO and Chairman John Stumpf to step down. The investigation by the Los Angeles Times revealed evidence that Stumpf was aware of the creation of unauthorized accounts, yet you did nothing to stop them. Such inactivity is inexcusable.

The fallout from the recent scandal engulfing Stumpf’s former employer is far from over, but thanks to the pressure of activists one of the alleged perpetrators is no longer in a position of power. We plan to continue pushing for justice at Wells Fargo, and hope others will do the same.


[Your Name Here]

Photo Credit: Ken Teegardin

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One Comment

  1. Gen Lovyet Agustsson says:

    my dad had a business bank account at wells fargo or i dont know

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