Wells fargo scum will pay

THE CLAWBACK is coming.

Wells Fargo says CEO John Stumpf and the executive who ran the bank’s retail banking division will forfeit tens of millions of dollars in pay as the bank tries to stem a scandal over its appalling sales practices.

Board members at the San Franciscobased bank are using the company’s “clawback policy” to recoup the money.

Stumpf will forfeit $41 million in stock awards, not receive a salary during an investigation into the scandal and be awarded no bonus for 2016, the bank’s directors said Thursday.

Beyond the CEO, the maneuver also affects Carrie Tolstedt, a retiring community banking executive who oversaw the department where thousands of workers opened fraudulent customer accounts to meet quotas.

Tolstedt was scheduled to collect about $125 million upon her voluntary exit at the end of the year. She received $9.1 million in compensation last year. The directors said she will now receive no compensation in connection with her retirement and also forfeit $19 million in stock awards.

Stumpf, who received $19 million last year, could get up to $200 million whenever he leaves the bank. The bank’s clawback provision was added after the 2008 financial crash. It allows the bank to take back compensation from executives who are tied to misconduct.

At a Senate grilling last week, Sen. Elizabeth Warren (D-Mass.) admonished Stumpf for his “gutless leadership.”

Wells Fargo agreed to pay $190 million to settle regulatory charges over the account scandal and has fired about 5,300 employees — but no executives were reprimanded.