Earlier today we noted that Wells Fargo’s board was actively considering whether to claw back pay from former retail-banking head Carrie Tolstedt as well as from Chief Executive John Stumpf. Now, just a few short hours later it looks like we have our answer with a Special Committee of Independent Directors announcing that they have hired Sherman Sterling as counsel to conduct a thorough review of the bank’s retail banking sales practices and that both Stumpf and Tolstedt will be forfeiting salary, stocks options and 201