Mar 28, 2019

Wells Fargo CEO Tim Sloan steps down

Wells Fargo's ex-CEO Timothy Sloan testifying before the House Financial Services Committee last month. (Photo by Chip Somodevilla/Getty Images)

After two years at the helm, Wells Fargo CEO Tim Sloan will step down effective immediately. The company's general counsel Allen Parker will serve as interim CEO while the company searches for a new chief executive.

Between the lines: Sloan is the second CEO, after John Stumpf, to leave since Wells Fargo's customer abuse scandals came to light in late 2016. Lawmakers have called for Sloan to resign given a string of other controversies that happened under his watch. Officials also questioned how much Sloan knew as COO and CFO when the company's foul sales practices were underway.

  • Also noteworthy: Parker joined Wells Fargo in 2017, which in theory means he will avoid criticism surrounding the bank's controversies that occurred before he was there.

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The Humanity First push for a coronavirus vaccine

Illustration: Aïda Amer/Axios

Policy responses to the global coronavirus crisis have been every-country-for-itself and — in the case of the U.S. and China — tinged with geopolitics.

The flipside: The scientific work underway to understand the virus and develop a vaccine has been globalized on an unprecedented scale.

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Trump attacks Schumer for impeachment in letter about coronavirus crisis

President Trump briefs reports on April 2. Photo: Win McNamee/Getty Images

President Trump accused Senate Minority Leader Chuck Schumer of being "missing in action" during the coronavirus crisis, writing in a scathing letter on Thursday that Schumer's focus on the "ridiculous impeachment hoax" resulted in New York being ill-prepared for the pandemic.

Why it matters: It's a blistering response to Schumer urging Trump to assign a senior military officer to enforce the Defense Production Act to produce more medical supplies.

World coronavirus updates: Confirmed cases top 1 million

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens and confirmed plus presumptive cases from the CDC

Novel coronavirus infections have hit the 1 million mark after "near exponential growth" that's reached "almost every country," World Health Organization Director-General Tedros Adhanom Ghebreyesus said Thursday.

The big picture: The global death toll exceeded 50,000 on Thursday, per Johns Hopkins data. Italy has reported nearly 14,000 deaths. Governments around the world have introduced public health and economic measures to try and curb the impact of the virus.

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