In an uncommon display of bipartisan unity, lawmakers on the Senate banking committee condemned Wells Fargo & Co. chief executive John Stumpf on Tuesday for the bank’s failure to prevent abusive sales tactics and its perceived reluctance to hold senior executives accountable for widespread scheme that led to a $185 million settlement earlier this month.
Sen. Elizabeth Warren, D-Massachusetts, brought the most scathing criticism, calling for Stumpf to resign and for the U.S. Department of Justice and Securities and Exchange Commission to launch probes of the bank.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
