September 20, 2016

Bloomberg: Warren Says Wells Fargo's Stumpf Should Resign, Face Criminal Investigation

John Stumpf arrived at Tuesday's Senate Banking Committee hearings with one hand in a bandage. He left even more battered and bruised. The Wells Fargo & Co. chief executive officer took fire from Democrats and Republicans alike, who blasted the executive's handling of a scandal over the opening of more than 2 million accounts without customers' authorization, as employees sought to meet cross-selling targets.

"You should resign," Senator Elizabeth Warren told Stumpf, who had injured his right hand while playing with his grandchildren. "You should give back the money you took while this scam was going on and you should be criminally investigated by both the Department of Justice and the Securities and Exchange Commission."

Read the full article here.