Wells Fargo CEO John Stumpf Facing Senate Panel over Accounts Scandal


Posted on: September 20th, 2016 by ABC News No Comments

Mark Neuling/CNBC/NBCU Photo Bank via Getty Images(WASHINGTON) — Wells Fargo CEO John Stumpf is facing some tough questions at a Senate Banking Committee hearing on Capitol Hill Tuesday morning.

Stumpf, who was asked to testify at the hearing, began by saying that he was “deeply sorry that we failed to fulfill our responsibility to our customers to our team members, and to the American public.”

Senators from both parties have described alleged misconduct at the bank as “fraud” during the proceedings.

On Sept. 8, regulators in Washington and California fined the bank $185 million after an internal review found that employees had opened or applied for more than 2 million bank accounts or credit cards without customers’ knowledge or permission.

This is a developing story, so please check back for updates. In the meantime, ABC News journalists will be live tweeting. You can follow along here:

A Twitter List by callingcaterina

Copyright © 2016, ABC Radio. All rights reserved.



Leave a Reply

You must be logged in to post a comment.