Crime Corporate Fraud

  • Sen. Warren: Stumpf should be criminally investigated

    Sen. Elizabeth Warren (D-Massachusetts) calls for Wells Fargo Chairman & CEO John Stumpf to resign and be investigated by the Justice Department and Securities Exchange Commission, as Stumpf testifies at the Senate Banking Committee over the fraudulent accounts scandal.

  • Sen. Warren grills Stumpf on WFC cross-selling

    Wells Fargo Chairman & CEO John Stumpf testifies at the Senate Banking Committee over the fraudulent accounts scandal, answering questions from Sen. Elizabeth Warren (D-Massachusetts) about the bank's cross-selling tactics.

  • Senator Elizabeth Warren, a Democrat from Massachusetts, listens as John Stumpf, chief executive officer of Wells Fargo & Co., not pictured, testifies in front of the Senate Committee on Banking, Housing, and Urban Affairs in Washington, D.C., U.S., on Tuesday, Sept. 20, 2016.

    Wells Fargo Chairman & CEO John Stumpf testifies at the Senate Banking Committee over the fraudulent accounts scandal, answering questions from Sen. Elizabeth Warren (D-Massachusetts) about his personal accountability in the scandal.

  • Stumpf: We will make it right by credit bureau and customer

    Wells Fargo Chairman & CEO John Stumpf testifies at the Senate Banking Committee over the fraudulent accounts scandal, answering questions from Sen. Jon Tester (D- Montana) about whether information from fraudulent accounts was reported to credit bureaus, potentially affecting customers's credit rating.

  • Stumpf: People are held accountable

    Wells Fargo Chairman & CEO John Stumpf testifies at the Senate Banking Committee over the fraudulent accounts scandal, answering questions from Sen. Bob Menendez (D- N.J.) about whether he or senior executives suffered any financial consequences over these actions.

  • Stumpf: Carrie chose to retire

    Wells Fargo Chairman & CEO John Stumpf testifies at the Senate Banking Committee over the fraudulent accounts scandal, answering questions from Sen. Bob Corker (R-Tenn.) about Carrie Tolstedt's departure from the company.

  • Stumpf: Those that lost their jobs had 'good-paying' ones

    Wells Fargo Chairman & CEO John Stumpf testifies at the Senate Banking Committee over the fraudulent accounts scandal, answering questions from Sen. Sherrod Brown (D-Ohio) about the bank's lowest-paid employees and the compensation package paid to Carrie Tolstedt.

  • Stumpf: No question we have violated some customers' trust

    Wells Fargo Chairman & CEO John Stumpf testifies at the Senate Banking Committee over the fraudulent accounts scandal, answering questions from Committee Chairman Sen. Richard Shelby (R-Alabama) about trust in the financial system.

  • Stumpf: We didn't get on this fast enough

    Wells Fargo Chairman & CEO John Stumpf testifies at the Senate Banking Committee over the fraudulent accounts scandal, answering questions from Committee Chairman Sen. Richard Shelby (R-Alabama) about when senior management were made aware of the fraudulent activity.

  • Stumpf: We did not get it right

    Wells Fargo Chairman & CEO John Stumpf testifies at the Senate Banking Committee over the fraudulent accounts scandal, including how internal review procedures failed.

  • Stumpf: I accept full responsibility for issues

    Wells Fargo Chairman & CEO John Stumpf testifies at the Senate Banking Committee over the fraudulent accounts scandal, including taking responsibility and laying out steps for the changing of the bank's sales culture.

  • John Stumpf, CEO, Wells Fargo

    Wells Fargo Chairman & CEO John Stumpf testifies at the Senate Banking Committee over the fraudulent accounts scandal.

  • Wells Fargo CEO testifying on Capitol Hill

    Committee Chairman Sen. Richard Shelby delivers opening remarks as Wells Fargo Chairman & CEO John Stumpf testifies at the Senate Banking Committee over the fraudulent accounts scandal.

  • WASHINGTON, Sept 15- The U.S. watchdog for consumer finance scored a major victory last week when it was part of the government group that forced Wells Fargo& Co into a $190 million settlement of fraud charges, but the Consumer Financial Protection Bureau still faces an ugly fight to justify its own existence. The CFPB could lose its first battle as early as Friday,...

  • Sen. Warren: Serious problem with WFC management

    CNBC's Tyler Mathisen speaks with Sen. Elizabeth Warren (D-Mass.) about the Wells Fargo fraudulent accounts scandal ahead of the Capitol Hill hearing.

  • District Judge Gregory Woods in Manhattan on Thursday said the SEC may pursue all its claims against former Chief Financial Officer Edward DiMaria, and all but one claim against former Director of Accounting Matthew Gamsey. The SEC accused New York- based Bankrate, which reached a $15 million settlement last September, and the executives of using...

  • District Judge Michael Shipp in Trenton, New Jersey, after pleading guilty last November to securities fraud and conspiracy charges, prosecutors said. According to prosecutors, Metro, 42, of Katonah, New York, would pass tips about mergers and other transactions involving Simpson Thacher clients to his friend and law school classmate Frank Tamayo, a Brooklyn...

  • Wells Fargo bombshell story

    Scott Reckard, financial consultant and former LA Times reporter, discusses how he first broke the Wells Fargo fraudulent accounts story after investigating initial fraud claims back in 2013.

  • NEW YORK, Sept 13- Opening arguments are set to begin on Tuesday in the trial of former American International Group Inc chairman Maurice "Hank" Greenberg over accounting fraud at the insurance giant some 16 years ago. The case, filed by then- New York Attorney General Eliot Spitzer in 2005 and which also names former AIG chief financial officer Howard Smith as a...

  • NEW YORK, Sept 12- A federal appeals court on Monday revived a former JPMorgan Chase& Co private banker's whistleblower lawsuit accusing the bank of firing her in retaliation for warning that an Israeli client might be committing fraud. The 2nd U.S. Circuit Court of Appeals in New York found enough evidence to suggest that former JPMorgan employee Jennifer...