“Wells Fargo Bankers, Chasing Bonuses, Overcharged Clients,” The Wall Street Journal, November 28, 2017 A1. Only 35 of 300 companies had been charged only what they had agreed to. Four foreign-exchange bankers fired.
Who is surprised? The culture at the company was potentially fatally defective.
Why hasn’t the Board been held liable? The directors utterly failed in their fiduciary duties.