Two Wells Fargo Board Members Resign In Wake Of Fake Account Scandal

Two Wells Fargo board members – including the board chairwoman – resigned their positions following a highly critical report from a U.S. house committee, alleging the board was slow to address the bank’s fake account scandal. Elizabeth A. Duke, the board chair, and James H. Quigley resigned their positions effective Sunday, Wells Fargo announced in a news release Monday. Charles H. Noski, a former chief financial officer of Bank of America, will serve as the new board chairman. Last month, Wells Fargo reached a $3 billion settlement with the Department of Justice, which found the bank’s employees created fake accounts to meet the bank’s “onerous sales goals.” This included using customers’ identities without their consent to open checking, savings, debit card, credit…