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Wells Fargo actively considering executive clawbacks in wake of scandal: Report

John Stumpf, chief executive officer of Wells Fargo & Co
Pete Marovich | Bloomberg | Getty Images
John Stumpf, chief executive officer of Wells Fargo & Co

Wells Fargo's board is actively considering executive pay clawbacks, reported Dow Jones on Tuesday, citing a source.

A spokesperson for Wells Fargo declined to comment.

The bank would likely claw back at least some compensation from the company's former retail banking head, Carrie Tolstedt, and CEO John Stumpf, Dow Jones reported.

Wells Fargo's stock was trading slightly lower shortly after the news.

The bank earlier this month agreed to a multi-million dollar settlement with California prosecutors and federal regulators, after customers said they were pushed into costly financial products that they didn't ask for.

The bank later issued an apology, saying it takes full responsibility. And bank chief Stumpf told a Senate panel that the bank is committed to fixing what went wrong.

Read a full report from the Wall Street Journal here.