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RE: Wells Fargo Crashes After Fed's Shocking Crackdown Bans Bank From Growing

in #banking7 years ago

Wells Fargo CEO John Stumpf's statement to appease the bank's fake account scandal did not satisfy Congress members.
Massachusetts Senator Democrat Elizabeth Warren said that the value of Wells Fargo's shares, which Stumpf had privately owned, exceeded $ 200 million and said, "You brought your employees to such a breaking point to deflect their customers so that their value is higher and they can put hundreds of millions of dollars in their pocket." used expressions.
He also told Stumpf that he had to be investigated within the scope of the scandal, saying, "You must resign.
Ohio Senator Democrat Sherrod Brown told Stumpf: "Where were thousands of people getting out of the office while the news was being written, while official officials were coming and going?" He directed the sorusun.
Stumpf said he was continuing his on-premises investigation of Wells Fargo and seeing how the Board needed to do something about the managers.
Wells Fargo, one of the largest banks in the US, has been sentenced to $ 185 million two weeks ago on grounds that it has opened more than 2 million deposits and credit card accounts unauthorized and confidential to its customers since 2011. @zer0hedge