Tim Sloan

Proposals to split the chairman and CEO roles at banks have rarely succeeded. But new developments — including a proposal to require separate roles for the next generation of managers — are helping concerned shareholders slowly make inroads.

The settlement, which requires judicial approval, will cover customers' fees and other costs related to about 2 million unauthorized accounts.

The lender will begin an ad campaign in mid-April with the tag line "Building Better Every Day," company employees were told Tuesday.

Rep. Maxine Waters, D-Calif., asked Wells Fargo executives on Friday to submit to new interviews concerning its fake-accounts scandal.

CEO Timothy Sloan earned nearly $13 million last year in base pay and stock; Wall Street bonus pool rises from 2015 but still lags the years before the crisis.

The auditing giant has faced heavy criticism for failing to uncover wrongdoing at Wells. But the San Francisco megabank said Wednesday that it wants to maintain a relationship that goes back decades.

The embattled bank said that the decision to withhold 2016 bonuses for CEO Tim Sloan and seven other executives was not based on any findings of improper behavior.

The number of new checking accounts at the embattled Wells Fargo fell by double digits year over year, and account closures remained brisk. Yet the figures on credit card applications were worse.

The bank's board is considering whether to withhold bonuses for CEO Tim Sloan and Chief Financial Officer John Shrewsberry.

The San Francisco bank said Friday that it plans to close at least 400 branches over the next two years, part of an effort to reduce annual expenses by $2 billion.