Politics & Government
Vindication for Elizabeth Warren?
After a verbal thrashing before a Senate Committee, Wells Fargo CEO John Stumpf is out. But is it enough for Warren?
After a verbal battering before a Senate banking committee, Wells Fargo CEO John Stumpf is out. But that still might not be enough, according to Massachusetts Sen. Elizabeth Warren.
Warren took Stumpf to task over the bank's intense "cross-selling" practices, which spurred employees to open accounts for customers without their permission. She was especially critical of the fact that lower-level employees were fired for their misdeeds, but upper management, including Stumpf, faced no consequences.
"What have you actually done to hold yourself accountable?" she asked Stumpf, at that late September hearing. "You should resign."
Find out what's happening in Beacon Hillfor free with the latest updates from Patch.
Now, Stumpf appears to indeed be on the way out, but Warren's questions remain. Taking, as usual, to Twitter, she raised the following issues Wednesday night:
As I said: @WellsFargo CEO Stumpf should resign, return every nickel he made during the scam, & face DOJ/SEC investigation. He’s 1 for 3.
— Elizabeth Warren (@SenWarren) October 12, 2016
If @WellsFargo’s John Stumpf is leaving with all of his ill-gotten millions, that's still not real accountability.
— Elizabeth Warren (@SenWarren) October 12, 2016
A bank teller would face criminal charges & a prison sentence for stealing a handful of 20s from the cash drawer.
— Elizabeth Warren (@SenWarren) October 12, 2016
A bank CEO should not be able to oversee a massive fraud & simply walk away to enjoy his millions in retirement.
— Elizabeth Warren (@SenWarren) October 12, 2016
Read more:
Find out what's happening in Beacon Hillfor free with the latest updates from Patch.
- Watch: Elizabeth Warren Delivers Savage Beatdown of Wells Fargo
- Wells Fargo CEO John Stumpf to Retire Amid Heavy Criticism
Image via C-SPAN
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