Wells Fargo fired four senior managers Tuesday as part of an ongoing nationwide investigation into the bank's sales practices. An Arizona executive is among them.
It’s the latest action by Wells Fargo in response to a federal investigation into the bank’s sales practices involving opening unauthorized customer accounts.
Pamela Conboy, the lead regional president in Arizona, is among those fired, accused of promoting unethical sales practices to branch employees.
Also fired were Wells Fargo’s Community Banking lead risk officer, the company’s head of community banking strategy and initiatives, and a Los Angeles regional president.
The firings follow $185 million in civil penalties by agencies, including the Consumer Financial Protection Bureau, and $5 million in remediation for affected bank customers.
Over 5,000 Wells Fargo employees have been fired during the investigation.
