Wells Fargo CEO faces furious Congress
Wells Fargo CEO John Stumpf appeared before Congress on Thursday, for the second time since news broke that his bank opened up 2 million fake accounts without informing its customers. Stumpf faced the Senate Banking Committee last week, where he incurred the wrath of Sen. Elizabeth Warren (D-Mass.), who demanded he resign.
At Thursday's hearing before the House Financial Services Committee, Stumpf continued to face outrage from Democrats and Republicans alike, with Rep. Gregory Meeks (D-N.Y.) accusing Stumpf of running "a criminal enterprise":
Stumpf stressed he would cooperate with lawmakers: "I am fully accountable for all unethical sales practices in our retail banking business, and I am fully committed to fixing this issue," he said. "We will not stop working until we get this right."
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Jeva Lange was the executive editor at TheWeek.com. She formerly served as The Week's deputy editor and culture critic. She is also a contributor to Screen Slate, and her writing has appeared in The New York Daily News, The Awl, Vice, and Gothamist, among other publications. Jeva lives in New York City. Follow her on Twitter.
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