Timothy J Sloan

When Sloan left Wells Fargo, the company described it as his decision and a reflection of his commitment to the company. During Sloan’s tenure as CEO from October 2016 to March 2019, Wells Fargo faced multiple scandals and regulatory penalties, according to the report. The bank was hit with a Federal Reserve-imposed growth cap, which is still unresolved. Sloan has now alleged that the bank used him as a scapegoat for the sales-practices abuses that prompted a congressional review, despite his efforts to meet regulatory demands and address the issues. Sloan has filed a lawsuit against the company, seeking over $34 million in unpaid compensation.