CNN Business: Wells Fargo CEO Tim Sloan is stepping down effective immediately as the bank struggles to overcome a litany of scandals. Sloan, a three-decade veteran of Wells Fargo, said it was his decision to relinquish control of Wells Fargo as a way to help the bank move forward. Wells Fargo's board pledged to find an outsider to replace Sloan, who plans to retire at the end of June. The shake-up comes as Wells Fargo has faced repeated calls from politicians to find new leadership to fix its broken culture.