Wells Fargo CEO Tim Sloan is out

Tim Sloan, Wells Fargo’s chief executive, stepped down from his position on Thursday, the bank announced — less than three years after he took the helm at the company amid a raft of sales scandals that have tarnished the bank.

The bank has appointed its general counsel, C. Allen Parker, to be the interim CEO, according to a company statement.

Sloan, 58, took the top job at the San Francisco-based bank in October 2016, after his predecessor was pushed out amid revelations that the company had opened millions of fake accounts and credit cards in customers’ names.

Under Sloan’s watch, Wells has been unable to stem the tide of controversies — and the state and federal investigations that have come with them — over the company’s allegedly abusive sales practices, like tricking customers into auto insurance they didn’t need.

“It has become apparent to me that our ability to successfully move Wells Fargo forward from here will benefit from a new CEO and fresh perspectives,” Sloan said in a statement. “For this reason, I have decided it is best for the company that I step aside and devote my efforts to supporting an effective transition.”

Sloan’s “retirement” is a big political win for Sen. Elizabeth Warren (D-Mass.), who has called for the banker to be fired, since he was at the bank during the years when many of the alleged abuses occurred.

“I’m glad Tim Sloan got canned,” Warren wrote in a tweet.

Board members had been split on Sloan for months, according to two people briefed on the board’s internal talks. While some had felt that his performance as CEO as lackluster, others thought he was handling the company’s turnaround well, sources said.

The supporters also didn’t want it to appear to be caving to pressure from Warren, these people said.

Sloan will remain on the board of directors until June 30, the bank said.

The shocking departure comes just one week after The Post first reported that board members had been in talks with former Goldman Sachs President Harvey Schwartz to take the CEO role. It’s unclear how far the talks progressed and whether he would accept the job.

Sloan’s resignation may not satisfy the bank’s toughest critics, however.

“A CEO resignation gives us a whiff of accountability, but just a whiff,” Linda Jun, senior policy counsel at Americans for Financial Reform, told The Post.