Wells Fargo Chairwoman Resigns Ahead of Scheduled Testimony

NEW YORK (AP) — Wells Fargo Board Chairwoman Elizabeth Duke and director James Quigley are leaving the company.

The announcement Sunday arrived less than a month after the bank agreed to pay a $3 billion fine related to its long-running practice of opening unauthorized bank accounts to meeting unrealistic sales goals.

Duke has chaired the board since January 2018. She had been vice-chair from October 2016 to December 2017.

Executives at the San Francisco bank are scheduled to testify before the House Financial Services Committee this week.

Wells Fargo & Co. named Charles Noski as chairman. The retired bank executive has served on the board since June.