Wells Fargo Names Mary Mack Head of Consumer Lending
Wells Fargo & Co (wfcnp) has expanded the role of Mary Mack, head of its community banking operations, to include overseeing its consumer lending business.
Mack, a 33-year veteran of Wells Fargo, will continue to serve on the lender’s operating committee and report to Chief Executive Tim Sloan, the bank said on Monday.
Read: President Trump May ‘Substantially Increase’ Fines Against Wells Fargo
Mack has led community banking since July 2016. The consumer lending operation includes the bank’s home lending, dealer services, student lending and personal lines of credit businesses, Wells Fargo said.
Mack took over as head of community banking from Carrie Tolstedt, a central figure in the sales scandal that has tarnished the bank’s reputation. Under Tolstedt’s watch, thousands of retail bank employees created as many as 3.5 million phony accounts in customers’ names to hit aggressive sales targets.
Read: Wells Fargo’s Foreign Exchange Bankers Overcharged Tons of Customers
Reuters reported last week that the new acting head of the U.S. consumer finance watchdog is reviewing whether Wells Fargo should pay tens of millions of dollars in connection with alleged mortgage lending abuse.
Rules of Discussion on Live Index
2. Member's comments should lead to value addition in forum discussion.
3. If anyone is found making repetitive Explicit/Abusive/Racial comments, his account shall be banned and old posts will be deleted.