‘You Should Be Fired’: Wells Fargo C.E.O. Faces Blistering Attacks From Senators
Since the existence of fake accounts was revealed just over a year ago, other scandals have been uncovered, including instances in which auto insurance customers were charged excess fees
and active duty service members had their cars seized.
“The changes Mr. Sloan and his team have made are not sufficient to reform a corporate culture
that is willing to abuse its customers and employees in an effort to pad its numbers and increase executive compensation,” Mr. Brown said
Wells Fargo’s chief executive, Timothy J. Sloan, on Tuesday faced blistering attacks from Republican
and Democratic senators, who voiced frustration with his response to a series of scandals that have rocked the bank.
Senator Elizabeth Warren, Democrat of Massachusetts, accused Mr. Sloan of promoting
an aggressive sales culture that led bankers to create millions of fake accounts.
