Sept 20- Wells Fargo& Co customers aiming to sue the bank over bogus accounts opened in their names may be in for an unpleasant surprise: the fine print requires them to take their claims to an arbitrator instead of a court. U.S. senators highlighted the issue on Tuesday as they grilled Wells Fargo Chief Executive Officer John Stumpf during a hearing.
Sept 20- U.S. Senate lawmakers excoriated Wells Fargo& Co's chief on Tuesday for his oversight of the bank as it opened 2 million bogus customer accounts, potentially laying the groundwork for new rules and reviving questions of whether banks are "too big to fail." Chief Executive Officer John Stumpf told the Senate Banking Committee on Tuesday that customers who...
Sept 20- Wells Fargo& Co's chief executive officer told a Senate panel on Tuesday that customers who had bogus accounts opened in their name will be made whole and compensated for any damage to their credit rating, but some Democratic senators called for his resignation. Under fire, CEO John Stumpf told the Senate Banking Committee he has told his managers to do "...
Senator Elizabeth Warren pressed Wells Fargo CEO John Stumpf during the committee hearing on Wells Fargo’s account-opening practices.
Wells Fargo CEO John Stumpf arrived at a bruising Capitol Hill hearing with his right hand already wrapped.
Sen. Elizabeth Warren lit into the CEO of Wells Fargo, blasting him personally and saying he should resign.
Sen. Elizabeth Warren takes down Wells Fargo.
WASHINGTON— The Latest on the testimony of Wells Fargo's CEO before the Senate Banking Committee:. Regulators fined San Francisco- based Wells Fargo $185 million earlier this month, saying employees had opened the millions of accounts to meet aggressive sales targets. The Massachusetts Democrat, one of the fiercest critics of Wall Street, challenged John...
As the bank heads to Capitol Hill for testimony on a fake accounts scandal, Wells Fargo may have one thing going its way.
Wells Fargo CEO John Stumpf will testify before Congress on Tuesday about the company's ethical business practices, USA Today reports.
WASHINGTON— THE ISSUE: The financial crisis that struck in 2008 touched off the worst recession since the 1930 s Great Depression, wiping out $11 trillion in U.S. household wealth and leaving about 8 million Americans jobless. Reckless trading and aggressive practices on Wall Street in the prior boom years were pinned with much of the blame.
Congressional leaders step up the heat on the San Francisco bank in the wake of fake account revelations.
WASHINGTON, Sept 16- Five Democratic U.S. The Consumer Financial Protection Bureau and other regulators announced last week that they had reached a $185 million settlement with the bank over the scam. The five- Massachusetts' Elizabeth Warren, Ohio's Sherrod Brown, Rhode Island's Jack Reed, New Jersey's Robert Menendez, and Oregon's Jeff Merkley- said Wells...
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,...
Elizabeth Warren discussed her views on the Wells Fargo account scandal and the election Thursday on CNBC.
CNBC's Tyler Mathisen speaks with Sen. Elizabeth Warren (D-Mass.) about her call for the Justice Department and FBI to release inquiry records on the 2008 financial crisis.
Donald Trump has tapped into anger Americans "rightly feel," but would take the U.S. in the wrong direction, Elizabeth Warren said.
The senator from Massachusetts is taking Wells Fargo's consumer accounts scandal straight to the top of the bank.
CNBC's Tyler Mathisen speaks with Sen. Elizabeth Warren (D-Mass.) about the Wells Fargo scandal, banking regulations, the 2008 financial crisis and her support for Hillary Clinton.
CNBC's Tyler Mathisen speaks with Sen. Elizabeth Warren (D-Mass.) about banking regulations.