Elizabeth Warren Lauds Wells Fargo CEO Pay Claw Back, Calls For More

Wells Fargo CEO John Stumpf's rough few weeks continues.

He's now set to forfeit some $41 million from his pay, as the fallout continues after the bank set up hundreds of unauthorized accounts without customers' permission, fees and all.

As the Washington Post reports, "It's the first time a high-ranking banking industry executive has personally faced such a steep penalty for company misdeeds since the 2008 financial crisis."

However, the paper continues, that still leaves the bank CEO with more than $100 million in company stock and millions in salary he earned, even as the mostly lower-level employees behind the account openings were fired, after being pushed to meet aggressive sales goals.

One of the critics calling for the bank's board to go farther is Massachusetts Sen. Elizabeth Warren, who publicly eviscerated Stumpf during his appearance before a senate banking committee earlier this month. The video was widely shared, seemingly serving as a vector for public outrage at Wells Fargo.

She weighed in Wednesday on Wells Fargo's decision to claw back parts of Stumpf's payment:

Warren additionally wrote a letter to the Lead Independent Director of Wells Fargo, Steven Sanger, "raising further questions about the compensation for Wells Fargo Chairman and CEO John Stumpf and former head of Community Banking Carrie Tolstedt," according to a press release.

More:

Watch: Elizabeth Warren Delivers Savage Beatdown of Wells Fargo CEO

After Verbal Beatdown, Wells Fargo CEO Resigns From Federal Reserve Post

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