THE WEEK THAT WAS...

A scolding for CEO of Wells

Wells Fargo CEO John Stumpf suffered a brutal beat-down on Capitol Hill just days after the bank announced he will forfeit compensation worth about $45 million over revelations that employees created as many as 2 million unauthorized accounts. The California state treasurer also is temporarily severing some business relationships with the San Francisco bank for the next year.

Bank to pay $13.5 million

The Los Angeles city attorney reached a $13.5-million settlement with U.S. Bank to resolve allegations that the nation’s fifth-largest bank allowed hundreds of foreclosed properties to deteriorate in L.A. neighborhoods slammed by the housing crisis. The deal requires the Minneapolis f irm to maintain the properties in “accordance with all applicable laws.”

Retirement program OKd

Nearly 7 million workers for California companies will be automatically enrolled in a new state-run retirement program under a bill signed by Gov. Jerry Brown. The law requires all companies with at least f ive employees to enroll their workers in the new California Secure Choice Retirement Savings Program if they do not offer their own retirement savings plan.

Fewer young adult viewers

It’s a new TV season, but the f irst week’s ratings indicate that the networks have a growing problem with younger viewers. During premiere week for the 201617 season, overall primetime TV usage was off about 7% among the 18-to-34 age group compared with a year ago. The number has been on a downward trend, ref lecting the emergence of video streaming and video on demand.