Bank doesn’t specify what prompted four managers’ termination Board may yet release more information, person familiar says Wells Fargo & Co. fired the head of its consumer credit-card business and three other senior managers as the bank’s board examines how abusive sales practices spread through branches before spiraling into a national scandal last year. Shelley Freeman, the former Los Angeles regional president who went on to run consumer-credit solutions, was terminated, along with Arizona...

Bank’s shares rise in early trading, paring 17% drop in 2016 ‘He wasn’t fired’ or ‘gently pushed’ by the board, Sloan says John Stumpf, who led Wells Fargo & Co. through the financial crisis and built it into the world’s most valuable bank, stepped down as chief executive officer and chairman, bowing to public outcry over legions of accounts opened by his employees for customers who didn’t request them. Stumpf, 63, is retiring from both posts effective immediately, the bank said Wednesday in...