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Wells Fargo CEO Tim Sloan is set to address the Senate banking committee regarding changes the bank has made following its cross-selling scandal that came to light in September 2016.
Some 3.5 million accounts were affected by conduct in which employees enrolled customers into accounts without their knowledge. The cross-selling was done to meet aggressive sales goals that since have been terminated.
Legislators have pushed for accountability, with Sen. Elizabeth Warren in particular hammering at Wells Fargo. Warren has demanded that the 12 board directors in place as the scandal came to light be terminated.
"Wells Fargo is a better bank today than it was a year ago. And next year, Wells Fargo will be a better bank than it is today," Sloan said, according to his prepared remarks.