Wells Fargo CEO Testifies on Capitol Hill
CHARLOTTE, NC — Amid calls to resign, the Wells Fargo CEO was lambasted for nearly four hours on Capitol Hill over creating millions of fake accounts.
John Stumpf has taken responsibility for more than two million unauthorized accounts, blaming it on controversial sales goals. Over 5,000 employees were fired because of it.
“I’m sorry that we didn’t get this right,” said Stumpf. “I take this very seriously. I’m not in denial and we will get this right. We will fix this. We do a lot of things really great.”
Senator Elizabeth Warren has demanded Stumpf step down. She also wants him to return the $2 million she says his stock made while bank employees set up the fake accounts.