Tags: Wells Fargo

The third largest U.S. bank Wells Fargo announced Wednesday to cut bonus for its executives following scandal that affected more customers than previously estimated.

The banking giant company is restructuring its employee compensation system after a scandal over its aggressive sales practises.

It is not quite often when news agencies are caught up in controversy for actually reporting a controversial topic. Just yesterday, the Wall Street Journal reported on federal regulators' rejection on several U.S. Banks based on their living wills which were submitted and the story reached the regulators which urged an investigation to kick off earlier today.