President Trump announced Friday that he will nominate Kevin Hassett, an expert in tax policy and one of the most prominent economists at the conservative American Enterprise Institute, to serve as the chairman of the Council of Economic Advisers.
The Street reports Wells Fargo’s board has clawed back an additional $28 million in incentive pay from former CEO John Stumpf, blaming him for failing to realize the seriousness of the bank’s fake accounts scandal which led to a $185 million settlement with federal and local regulators in September. More than 2 million unauthorized credit card and deposit accounts were set up by employees working to meet the goal of selling eight different products to each customer household. The board also reclaimed an additional $47.3 million in stock options from former community banking chief Carrie Tolstedt.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
