“I got individuals right now who are on the street, on the street, they’re not back in their homes. They had these fraudulent mortgages. Nobody has said, oh I’m sorry that we gave you these fraudulent mortgages, we gonna put you back in your home and we are going to make sure that everything is ok. No one has done that for them. You haven’t volunteered to do that. Will Wells Fargo put people back in their homes?”
Rep. Gregory Meeks Destroys Wells Fargo CEO John Stumpf: House Financial Services Committee Hearing
Rep. Gregory Meeks (D-N.Y.) said Stumpf was running a “criminal enterprise,” noting the bank had been penalized multiple times during the CEO’s leadership, and should step down.
“I serve at the pleasure of the board,” Stumpf responded.
“Then the entire board needs to go,” Meeks said. “Something is going wrong with this bank. If the bucks stops with you,” then you should be held responsible.