LogFAQs > #886285159

The bank was fined 185 million dollars, which sounds like a lot, until you realize that their profit in 2016 was 21.93 billion dollars. 185 million dollars is less than less than 1% of the bank's profits. It's around .8%, to be exact. That's like, two days' worth of profit for them. Barely a drop in the bucket.

As for firing executives and taking their money?

The Board decided to take back thus far a total of $69 million dollars from Stumpf. Sounds like a lot, right? But this dude literally made $286 million from 2011-2016 alone. He's literally walking away with more than 200 million dollars. And that's just from 2011-2016. He's been working for much longer than that.

Edit: Source: https://www.cnbc.com/2017/04/10/wells-fargo-board-slams-stumpf-and-tolstedt-claws-back-millions.html

This is what people mean when they say nothing bad ever actually happens to big executives in finance. They can screw over millions of people and commit all sorts of fraud upon our citizens and government and suffer virtually no consequences. If a guy like Stumpf actually went to prison, maybe companies wouldn't be so reckless and unethical with people's money, but that doesn't happen often. Hell, the only reason Madoff went to prison was because most of his clients were rich people
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Not changing this sig until the Knicks win the NBA Championship! Started...4/23/2011? Or was it 2010?