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WSJ: Wells Fargo board may decide on clawbacks soon

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WSJ: Wells Fargo board may decide on clawbacks soon

Wells Fargo& Co.'s board might decide on soon, The Wall Street Journal reported, citing a "person familiarwith the matter."

The company board, which is thinking of clawing back payfrom Chairman and CEO John Stumpf and former community-banking head CarrieTolstedt, wants to reach a decision before Stumpf in front of the House FinancialServices Committee on Sept. 29.

The decision follows recent issues regarding"widespread illegal" practices in the company's retail bankingoperations.

The news outlet reported a company spokeswoman declined tocomment on the news.