Wednesday, September 21, 2016

'You Should Resign': Watch Sen. Elizabeth Warren Grill Wells Fargo CEO John Stumpf

Facing off with the CEO whose massive bank appropriated customers' information to create millions of bogus accounts, Sen. Elizabeth Warren, D-Mass., had sharp questions Tuesday for Wells Fargo CEO John Stumpf. She said Stumpf made millions of dollars in the "scam," telling him, "You should resign ... and you should be criminally investigated."

As we've reported before, Wells Fargo is paying $185 million in penalties for acts that date to at least to 2011. The firm says it fired some 5,300 employees who were found to have created false accounts as it sought to increase "cross-selling" — building the number of accounts each customer holds.

The exchanges between Warren and Stumpf were among the sharpest, but other senators also pressed the executive about what have become hot topics as public outrage has grown over the case. Here's some of what panel Chairman Sen. Richard Shelby, R-Ala., and others wanted to know:...
http://www.npr.org/sections/thetwo-way/2016/09/20/494738797/you-should-resign-watch-sen-elizabeth-warren-grill-wells-fargo-ceo-john-stumpf?ft=nprml&f=1001


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