Protestors outside the hotel where Wells Fargo is holding its annual meeting.
Protestors made some noise this morning in downtown Des Moines, outside a Wells Fargo stockholders meeting.
The protesters are blasting the bank over its business practices. Federal regulators recently slapped the bank with a $1 billion fine for loan abuses. Wells Fargo President and CEO Tim Sloan apologized in a video statement released last October.
“I am deeply sorry for the unacceptable sales practices in our retail bank and other mistakes that we’ve made. There is simply no excuse for what happened,” Sloan said. He echoed those remarks this morning. Sloan told investors that rebuilding trust is the company’s top priority. The protestors are calling for Wells Fargo to fire Sloan and the company’s entire board of directors.
In Iowa alone, Wells Fargo has around 16,000 employees.