Wells Fargo CEO Testifies Before Senate In Secret-Accounts Scandal Wells Fargo CEO John Stumpf appeared before the Senate Banking Committee on Tuesday to answer questions about the bank's sales tactics. Bank employees opened as many as 2 million unauthorized accounts in order to meet sales goals and collect bonuses. Wells Fargo agreed to pay a $185 million fine to the Consumer Financial Protection Bureau, but did not acknowledge any wrongdoing. Now the Justice Department is reportedly conducting its own investigation. Wells Fargo CEO John Stumpf appeared before the Senate Banking Committee on Tuesday to answer questions about the bank's sales tactics. Bank employees opened as many as 2 million unauthorized accounts in order to meet sales goals and collect bonuses. Wells Fargo agreed to pay a $185 million fine to the Consumer Financial Protection Bureau, but did not acknowledge any wrongdoing. Now the Justice Department is reportedly conducting its own investigation. Business
Wells Fargo CEO John Stumpf appeared before the Senate Banking Committee on Tuesday to answer questions about the bank's sales tactics. Bank employees opened as many as 2 million unauthorized accounts in order to meet sales goals and collect bonuses. Wells Fargo agreed to pay a $185 million fine to the Consumer Financial Protection Bureau, but did not acknowledge any wrongdoing. Now the Justice Department is reportedly conducting its own investigation.
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