Many companies featured on Money advertise with us. Opinions are our own, but compensation and
in-depth research may determine where and how companies appear. Learn more about how we make money.

Money is not a client of any investment adviser featured on this page. The information provided on this page is for educational purposes only and is not intended as investment advice. Money does not offer advisory services.

Wells fargo Bank corporate office
Wells fargo Bank corporate office in Atlanta, GA, on Nov. 12, 2017.
John Greim—Getty Images

Wells Fargo fired four senior executives on Tuesday as part of an ongoing probe into the bank's sales-practices scandal that made headlines last fall.

The firings are the first public terminations of any senior-ranking managers at the bank since Wells Fargo was accused of opening up to two million bank and credit card accounts without customers' knowledge in September, the Wall Street Journal reports. As a result, Wells Fargo said it fired roughly 5,300 employees, most of whom were low-level. But some employees said their actions were the result of intense pressure from higher-ranking managers urging them to meet sales goals.

The four executives fired all had prominent roles within Wells Fargo's retail-banking business — the division that deals with everyday, individual consumers. In addition to their termination, the executives were denied 2016 bonuses and will forfeit any unvested equity and stock options.

An internal investigation into the Wells Fargo's sales-practices will continue, with a goal to reach a conclusion by April. "Any additional actions will be made public by that time,” the bank said.