federal advisory council

Most Read

[DIGEST: CNN, Fortune]

In the latest casualty of a nationwide banking scandal, Wells Fargo CEO John Stumpf has stepped down from his role as the San Francisco bank district's representative to the Federal Advisory Council, a group of 12 bank executives that advise the Fed board. As a council member, Stumpf would meet with the Fed's board of governors in Washington, D.C. four times a year to discuss banking matters. A Wells Fargo representative said in a statement that Stumpf "made a personal decision to resign as the Twelfth District’s representative to the Federal Advisory Council" and that his "top priority is leading Wells Fargo."

Keep reading... Show less