Search Jim Cramer's "Mad Money" trading recommendations using our exclusive "Mad Money" Stock Screener.
Did you miss last night's "Mad Money" on CNBC? If so, here are Jim Cramer's top takeaways for today's trading.
Stumpf apologized to Wells Fargo customers who found themselves with products they did not want. He said Wells is built on a culture of doing right by customers and he personally takes responsibility for any case where that did not happen.
Stumpf continued that at any given time Wells has 100,000 employees in its banking centers and over the past five years, his bank has fired about 1,000 employees a year for not abiding by their rules. He said a recent audit showed that out of 93 million new accounts, about two million accounts, most of which originated from third parties, could not be fully verified. Out of those, the company identified 155,000 accounts that were not verified and immediately returned $2.6 million in fees from those accounts.
Wells Fargo also took the step of removing product sales goals from their retail plan, a move which Stumpf said shouldn't have a material impact on earnings going forward, but will help to remove any confusion about what's expected from their retail staff.
Stumpf also commented on Senior Vice President Carrie Tolstedt's departure from the company, saying that Wells Fargo does have board procedures in place to reclaim any bonuses or compensation that was not warranted or deemed not appropriate.
Stumpf said Wells Fargo remains a growth company and will double down on investments in tools and training to help them achieve their goals of doing right by customers.
Boston Scientific (BSX - Get Report) : In his second "Executive Decision" segment, Cramer sat down with Michael Mahoney, chairman and CEO of Boston Scientific, the medical device maker with a stock that's up almost 30% for 2016.
Mahoney said Boston Scientific has over 25,000 employees around the globe focused on innovation and there is a lot more growth to come. He said his company's Synergy stents are taking share globally, while the new Lotus heart valve replacement is seeing excellent clinical outcomes.
Boston Scientific continues to innovate with its endoscopy products, making those procedures less invasive for patients. The company's pacemakers have twice the warranty length of competitors. Mahoney said his company is also making strides to combat chronic pain, which affects over 100 million people.
Finally, Mahoney said the clinical trials for his company's treatment to manage Parkinson's disease is also progressing well and he expects to file for approval in late-2017.
Cramer said when the markets are down on interest rate worries, this is the stock to buy.
To read a full recap of "Mad Money" on CNBC, click here.
To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.
To sign up for Jim Cramer's free Booyah! newsletter with all of his latest articles and videos please click here.