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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Bryan Walsh, author of Future
56 mins ago - Health

Rockefeller Foundation commits $1 billion for COVID-19 recovery

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The Rockefeller Foundation announced on Monday that it will allocate $1 billion over the next three years to address the pandemic and its aftermath.

Why it matters: The mishandled pandemic and the effects of climate change threaten to reverse global progress and push more than 100 million people into poverty around the world. Governments and big NGOs need to ensure that the COVID-19 recovery reaches everyone who needs it.

Updated 1 hour ago - Politics & Policy

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Illustration: Sarah Grillo/Axios

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  2. Health: 13 states set single-day coronavirus case records last week — U.S. reports over 80,000 new cases for second consecutive day.
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  4. Media: Fox News president and several hosts advised to quarantine after possible COVID-19 exposure

Fox News president and several hosts advised to quarantine in COVID-19 precaution

A political display is posted on the outside of the Fox News headquarters on 6th Avenue in New York City in July. Photo: Timothy A. Clary/AFP via Getty Images

Fox News President Jay Wallace and anchors Bret Baier and Martha MacCallum are among those recommended to get tested and quarantine after possible exposure to COVID-19, the New York Times first reported Sunday night.

The big picture: The Fox News contingent, which also included "The Five" show hosts Juan Williams and Dana Perino, were on a charter flight from Nashville to New York following Thursday's presidential debate with a person who later tested positive for the coronavirus.