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Category: Wells Fargo
Donald Trump Just Gave Wells Fargo a Break
But the tide has already begun to turn for the nation’s third biggest bank by assets, thanks in no small part to the new presidential administration. Earlier this week, the U.S. Labor Department removed a website it had created to log complaints from Wells Fargo employees who claimed to have been retaliated against by supervisors for blowing the whistle on a massive fake-account scandal that look place at the bank from at least 2011 through 2015.
Capitol Report: Senate Dems say Wells Fargo not responding to fraud info requests
US Senator Elizabeth Warren, Democrat of Massachusetts, holds up copies of Wells Fargo earnings call transcripts as she questions John Stumpf, then chairman and CEO of Wells Fargo The bank’s management has so far failed to answer all the questions the committee members have put to it, the letter says, following its settlement with multiple regulatory authorities in September for multi-year fraudulent sales practices. The letter , jointly signed by nine Democrats including Ranking Member Sherrod Brown of Ohio and Elizabeth Warren of Massachusetts, again asked Wells Fargo’s board for a status report on its ongoing investigation of the fraud and a detailed timeline of when the board learned about the illegal practices and actions it took.