Wells Fargo CEO John Stumpf Resigns Amid Scandal

Updated at 6:15pm ET with Wells Fargo statement.
The chairman and chief executive of Wells Fargo & Co., John Stumpf, has resigned effective immediately in the aftermath of a scandal over the bank’s past practice of secretly selling services to unsuspecting customers.
Stumpf will be replaced by President and Chief Operating Officer Timothy Sloan, long considered to be Stumpf’s eventual successor.
Wells Fargo has been hammered in recent weeks by critics who say the bank unfairly to