Wells Fargo revised its fourth-quarter loss due to a new $328.4 million charge related to losses on investments. The San Francisco-based bank said its loss for the quarter widened to 84 cents per share from a previously reported 79 cents per share.
Wells Fargo & Co.’s board has suspended its bonus policy for Chief Executive John Stumpf and its other top executives, according to a Securities and Exchange Commission filing on Friday.
Wells Fargo also plans to boost the annual base salaries of Atkins and Hoyt to $700,000 from $600,000 on March 1.
