LIVE: Wells Fargo CEO gets grilled by the Senate (WFC)
|09/20/2016||Posted by BusinessMediaguide.Com under General World News||
Wells Fargo CEO John Stumpf is set to appear before the Senate Banking Committee at 10 a.m. ET on Tuesday to answer question about fraudulent accounts opened by Wells employees.
2 million checking and credit card accounts were opened from 2011 onward by Wells Fargo employees without the knowledge of customers. The accounts were created in order to generate fees for Wells, as well as for employees to meet aggressive sales targets.
The Consumer Financial Protection Bureau (CFPB), the Office of the Comptroller of the Currency, and the Los Angeles prosecutor all went after Wells for the practice and settled for read more >>>