Wells Fargo CEO’s pay was cut 20 percent last year — to $17 million
Just a couple of comments stimulated by Dan Casey’s Sunday column.
Isn’t it amazing that Roanoke’s own tiny little Hometown Bank can figure out how to provide overdraft protection to the school system for only $2,500 without breaking any laws or running afoul of any banking regulations when a behemoth like Wells Fargo can’t.
Wells Fargo’s answer to the $35,000 fee for the Roanoke School System’s overdraft protection is typical corporate bull poop!
Casey is correct when he says it is all about the money. John Stumpf, Chairman and CEO of Wells Fargo had to endure a pay cut of almost 20% in 2010; his compensation went from $21.34 million in 2009, according to the 2010 Wells Fargo Proxy Statement, to $17.10 million for 2010, as reported in the 2011 Wells Fargo Proxy Statement. Poor fellow.
However, a few $35,000 fees here and there and a few hundred thousand $3 per month debit card fees will have him back in no time. Who says Wells Fargo isn’t an all-American company?
Robert N. Belcher