Carrie Tolstedt, Wells Fargo & Co’s “sandbagger”-in-chief is leaving the giant bank with an enormous pay day—$124.6 million when she retires at the end of the year.
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Carrie Tolstedt served as the company’s head of Community Banking for eight years, during which employees met sales quotas and racked up fees by opening 1.5million bank accounts and 565,000 credit cards for customers without their consent.
On Thursday, the Consumer Financial Protection Bureau fined Wells Fargo a record $185million, and 5,300 employees were fired over the course of five years as a result of the scandal.
Tolstedt, however, is walking away from Wells Fargo with a very full bank account—and praise. In the July announcement of her exit, which made no mention of the soon-to-be-settled case, Wells Fargo’s CEO John Stumpf said Tolstedt had been one of the bank’s most important leaders and “a standard-bearer of our culture” and “a champion for our customers.”