Democratic and Republican lawmakers on Tuesday pressed Wells Fargo & Co Chief Ex...
WASHINGTON - Democratic and Republican lawmakers on Tuesday pressed Wells Fargo & Co Chief Executive Tim Sloan for proof the bank has put a string of consumer abuse scandals behind it at a tense congressional hearing that saw Sloan firmly on the defensive.
Sloan was the first bank executive to be grilled by the House Financial Services Committee since it was taken over by Democrats following the 2018 congressional election. A nervous Wall Street has been keen to see how the panel will treat the industry. Democrats and Republicans took a broadly tough line, quizzing Sloan on the bank’s remediation efforts, personnel changes, risk management, culture and whether it should be broken up.
“You will hear bipartisan criticism of the actions you have taken and the failures that you have overseen under your watch,” he said. “Wells Fargo is a better bank than it was three years ago, and we are working every day to become even better,” Sloan, 58, read from his written testimony.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wells Fargo CEO Faces Aggressive Questions from CongressWells Fargo Chief Executive Timothy Sloan faced combative questions from a bipartisan group of House lawmakers, his latest test in the yearslong fallout from his bank’s sales-practices scandal.
Read more »
Wells Fargo CEO avoids major stumble at heated congressional hearingDemocratic and Republican lawmakers on Tuesday pressed Wells Fargo & Co Chief Ex...
Read more »
Wells Fargo CEO Tim Sloan is getting ready to be grilled by CongressWells Fargo CEO Tim Sloan will be testifying before Congress in response to the company's widespread customer abuses.
Read more »
Wells Fargo CEO draws bipartisan ire in Congress hearingBoth Democratic and Republican lawmakers pressed Wells Fargo & Co Chief Executiv...
Read more »
Wells Fargo CEO Tim Sloan’s message of contrition and improvement draws bipartisan rebukeWells Fargo & Co. Chief Executive Tim Sloan traveled to Capitol Hill with a message of contrition for its many scandals and commitment to treating its employees and customers right. Lawmakers from both parties weren’t buying it.
Read more »
Wells Fargo CEO faces bipartisan grilling in front of House committeeWells Fargo CEO Tim Sloan took a bipartisan battering in front of the House Financial Services Committee, as lawmakers assailed the banking giant for a series of scandals engulfing the bank.
Read more »
Wells Fargo CEO to tout risk management, remediation to U.S. CongressWells Fargo & Co Chief Executive Tim Sloan will tout the scandal-plagued bank&0...
Read more »
Wells Fargo CEO heads to Congress amid claims that reforms are slippingAs the chief executive of Wells Fargo & Co. gets set to tell lawmakers that the bank is moving past its history of consumer abuses, a new report contends the embattled San Francisco financial institution is backsliding.
Read more »
Ocasio-Cortez asks Wells Fargo CEO why bank was 'involved in the caging of children''Mr. Sloan, why was the bank involved in the caging of children and financing the caging of children to begin with?' Ocasio-Cortez asked Tim Sloan.
Read more »