Merkley Demands Accountability From Wells Fargo CEO at Senate Banking Committee Hearing
Merkley Demands Accountability From Wells Fargo CEO at Senate Banking Committee Hearing
Washington, DC—Oregon’s Senator Jeff Merkley today demanded accountability and answers from Wells Fargo at a Senate Banking Committee hearing investigating the recent revelations that the bank had illegally created millions of bank and credit card accounts without customers’ knowledge.
Merkley told CEO John Stumpf, “All these people were fired because of the culture you established. This was a systemic problem that you benefitted from enormously, the bank benefitted from enormously, and you are scapegoating the people at the very bottom. You can only blame them for ethical lapses; you never disclosed you had a systemic problem. Accepting full responsibility for establishing a culture that put people in an impossible situation would be to resign, return your funds and help fund assistance for fired employees.”
Watch Senator Merkley question Wells Fargo CEO John Stumpf at today’s Senate Banking Committee hearing here.
Related Press
- Tester, Shaheen, Merkley, Hassan Introduce Bill to Protect Businesses From Collecting Sales Taxes
- Wyden, Merkley Call on Speaker Ryan to Hold House Vote on Net Neutrality
- Merkley Pushes Back on Regulators’ Weakening of Volcker Rule
- Merkley Statement on House Passage of Bank Deregulation Bill
- Merkley and Toomey Call on FCC to Address Identity Theft and Fraud in Public Comments
