Tim Sloan, chief executive of Wells Fargo & Co., testifies before the House Financial Services Committee in Washington on Tuesday.
The contentious hearing increased pressure on regulators to continue their tough approach to Wells Fargo and helps fuel Democratic efforts to seek the breakup of giant banks that have a history of consumer abuses. “Every single member of this committee has constituents in their state who were impacted by Wells Fargo,” he told Sloan. “”Our constituents should be able to trust their own bank.”Wells Fargo’s high-pressure sales practices in 2013. Three years later, the bank acknowledged that its employees had opened millions of checking, savings and credit card accounts that customers never authorized.with regulators and plaintiffs who have brought private lawsuits.
“We have more work to do and that is an ongoing commitment by all of Wells Fargo’s 260,000 team members — starting with me — to put our customers’ needs first, to act with honesty, integrity and accountability; and to strive to be the best bank in America,” Sloan told the committee.
Funny, he looks nice.
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