told-the-senate
Senators push Wells Fargo CEO on pay clawbacks after bogus accounts
September 21, 2016 by creative · Leave a Comment
U.S. Senate lawmakers excoriated Wells Fargo & Co's chief on Tuesday for his oversight of the bank as it opened 2 million bogus customer accounts, potentially laying the groundwork for new rules and reviving questions of whether banks are “too big to fail.” Chief Executive Officer John Stumpf told the Senate Banking Committee on Tuesday that customers who had bogus accounts opened in their name will be made whole and compensated for any damage to their credit rating, but some Democratic senators called for…
Excerpt from:
Senators push Wells Fargo CEO on pay clawbacks after bogus accounts