Wells Fargo is slashing bonuses tied to lending from its compensation plan for 2017, though its core pay grid remains untouched, according to the firm.

The move, which comes after months of mounting regulatory scrutiny of the bank due to allegations that employees opened unauthorized accounts on behalf of clients, marks a departure from past years when Wells Fargo incentivized its advisers to ramp up that aspect of the business.

Register or login for access to this item and much more

All On Wall Street content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access