The brokerage unit will do away with bonuses for selling clients products such as mortgages.
Prudential was accused of covering up fraudulent sales of life insurance through Wells Fargo to low-income customers.
Matthew Castro says he’s sorry about what he did at Wells Fargo and even sorrier about the people he did it to: Latinos not so different from himself.
Lawmakers demanded more accountability and made clear the firm is far from putting a recent scandal behind it.
Wells Fargo’s John Stumpf, struggling to quell a scandal, will tell lawmakers the bank failed customers and the public.
The bank has been swept up in one of the industry’s most embarrassing episodes since the financial crisis.
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