New Wells Fargo CEO: 'Expect more tough headlines'

Wells Fargo’s new CEO Tim Sloan apologized to employees on Tuesday for the “pain” they were caused by the company’s fraudulent sales practices.

Sloan, a 26-year veteran of the company, did not outline whether he plans to make amends on behalf of the company’s 260,000 employees. But he did say in a company-wide speech that they should “expect more tough headlines, as additional accountability actions occur, and other investigations and reviews are completed … some that is going to be very painful for us.”