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Circling the stagecoaches

8 September 2016 By Antony Currie

The U.S. lender led by John Stumpf has undertaken one of the biggest purges of bad bankers. It fired some 5,300 employees for opening 2 mln fake customer accounts that just led to $190 mln in fines. Failure of culture, incentives and accountability isn’t limited to high finance.

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