The news was especially concerning after the scandal at Wells Fargo & Co. ( NYSE:WFC ) which revealed that employees had opened accounts without customer authorization. The bank was slapped with a $185 million fine, and CEO John Stumpf was forced into early retirement. Chief executive officers at Bank of Montreal ( TSX:BMO )( NYSE:BMO ) and Bank of Nova Scotia ( TSX:BNS )( NYSE:BNS ) were quick to defend their respective companies in April. Both men said that allegations of aggressive tactics were, for the most part, unsubstantiated, and that the organizations monitored sales practices on a consistent basis. Banks were prompted to respond after a follow up CBC report that cited almost 1,000 email and phone contacts from employees at the other Canadian banks who described similar pressure to resort to aggressive tactics. TD Bank and Bank of Nova Scotia took the liberty to conduct internal audits and review processes which did not yield misconduct.