“YOU SHOULD RESIGN” Elizabeth Warren DESTROYS Wells Fargo CEO For Unauthorized Accounts
Elizabeth Warren DESTROYS Wells Fargo CEO On unauthorized Accounts 9/20/16. Elizabeth Warren, D.-Mass., called on Wells Fargo CEO John Stumpf to step down on Tuesday in an intense examination of the CEO’s role in an unauthorized accounts scandal before the Senate Banking Committee. “You should resign,” Warren, a longtime champion of consumers, told the CEO during the hearing Warren also said Stumpf should give back millions of dollars of bonuses he received and be criminally investigated. She lashed out at the leader of the third-largest U.S. bank for firing low-level employees while allowing richly paid executives stay on the job. “It’s gutless leadership,” she said. In his opening remarks, Stumpf told a Senate panel Tuesday that he accepts “full responsibility” for unethical sales practices in the bank’s retail division, as he faced questions about allegations the bank’s employees secretly opened accounts over a five-year period to meet sales goals. In the latest example of a banker being taken to task on Capitol Hill, members of the Senate Banking Committee are pressing the CEO on when he learned about the wrongdoing, what the bank has done to stop the activity and whether he and and other executives will return some of their compensation.