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Wells Fargo chief quits after fake account scandal

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Mr Stumpf has taken responsibility for the problems, but will not admit anything wrong with the bank's culture.

New York

THE scandal engulfing Wells Fargo toppled its chairman and chief executive on Wednesday as John Stumpf announced his departure from the company, effective immediately. The move was a swift and stunning fall for an executive whose bank made it through the 2008 financial crisis