A nun was interrupted by a shareholder at the rowdy Wells Fargo annual meeting

Wells Fargo shareholder meeting disrupted

Wells Fargo's annual shareholders' meeting turned rowdy Tuesday as at least four audience members loudly protested the company's sales practices, one of whom interrupted a nun.

Despite the tumult, shareholders re-elected all 12 board members.

Earlier in the day, one shareholder demanded that board members explain what they knew about the bank's fake account scandal and when they knew it.

Another ripped into the board for not taking action sooner as its employees created more than 2 million accounts for customers without their knowledge. More than 5,000 employees were fired including several top executives who were forced to give back salary.

"You did it that way and you allowed it to continue for years!" one man shouted.

Three protesting shareholders were removed by security.

Another speaker, Sister Nora Nash, director of corporate responsibility for the Sisters of St. Francis of Philadelphia, also was critical of the board. She said the board "failed to set the tone and the culture" that it should have. She was interrupted briefly by one of the protesters.

LISTEN: Shareholders tear into the board

Here's audio of a rowdy shareholder disrupting Wells Fargo annual meeting

The scandal arose from a practice known as cross-selling in which employees tried to enroll customers in as many programs as possible. Aggressive sales goals since have been rolled back by the bank, which has apologized repeatedly for the problems and the way they were handled.

However, audience members ripped the bank, with one motion during the meeting, which was held in Ponte Vedra Beach, Florida, asking that Wells Fargo be broken up.

"One of the key arguments for reducing the size of Wells Fargo ... is that the bank is too big to manage," said Rachel Curley of Ralph Nader's consumer advocate group Public Citizen. "The massive cross-selling fraud attests to this problem."

The board repeatedly from shareholders who want the board replaced.

"The Wells Fargo board has suffered under mushroom management. Like mushrooms, the board has been kept in the dark and fed horse manure," said Brandon Rees, deputy director of the office of investment for the AFL-CIO, a major investor in the bank. "In my opinion, the board needs to refresh itself with new directors, new blood."

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