According to a Wall Street Journal report, executives at the beleaguered bank are in line for pay cuts. The report singled out the company's former retail baking head Carrie Tolstedt and CEO John Stumpf as the affected ones.
Wells Fargo's scandal in which the bank opened phony accounts resulted in $185 million in penalties and 5,300 employees being fired. A recent analysis by CNN Money showed that Stumpf would pocket a neat $200 million in cash, stock and options, if he is forced to step down or resign.
At time of writing, Wells Fargo shares were up 0.29 percent at $45.02.
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