The focus should be on Wells Fargo’s board and how it reacts to the account creation scandal, says TheStreet’s Jim Cramer. Wells Fargo said Tuesday it would end the retail-bank sales targets that regulators say helped motivate thousands of employees to illegally open unauthorized customer accounts to meet performance goals. Cramer says the bank remains a ‘rate raise play’ despite of all the regulatory headaches it will soon encounter as it deals with the scandal and the demands that executives see bonuses clawed back.
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