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Wells Fargo CEO Grilled at D.C. Hearing

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Wells Fargo CEO Grilled at D.C. Hearing

2016-09-20 20:52:41

On Tuesday, the CEO of Wells Fargo faced accusations of fraud and calls for his resignation from U.S. senators at a DC hearing over accusations that employees at the company opened millions of unknown accounts to meet sales quotas. During the hearing, Chief Executive John Stumpf said that he was "deeply sorry" that the bank failed to meet its responsibility to customers and didn't act sooner. He also promised to assist affected customers. Stumpf, who has been Wells Fargo's CEO since 2007, has now been asked to step down after it was reported that Wells Fargo sales employees opened more than two million fake bank and credit card accounts, which soon levied a $185 million fine.

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