Wells Fargo's revised policy takes back unpaid compensation awards in the event of misconduct, material error, failure to supervise or in the event the company or an individual executive's business group has a material downturn in financial performance or failure of risk management.
While the difficult economic climate at the time and other factors may have hastened the firm's failure, the risky business strategy and conduct by Corzine and his team helped fuel its demise, it says.