Wells Fargo CEO apologizes for betraying customers in heated Senate hearing

Wells Fargo CEO apologizes for betraying customers in heated Senate hearing

Fox News: Politics

Wells Fargo CEO John Stumpf apologized on Capitol Hill Tuesday for his bank’s high-profile scandal that allegedly involved workers opening unauthorized accounts -- but faced tough questions from senators, one of whom called for his resignation and said he should be criminally investigated. “I do accept responsibility and I am sorry,” Stumpf told the Senate Banking Committee.Strumpf was in the hot seat over revelations that Wells Fargo secretly opened more than 2 million accounts without customers’ permission, as part of an apparent effort to exceed sales goals. Earlier this month, Wells Fargo agreed to pay a $185 million penalty as part of a civil settlement.“Wrongful sales practice behavior in our retail banking business ... runs counter to our vision of helping our customers succeed financially and it is not representative of Wells Fargo as an institution,” Stumpf said.Stumpf sai. . .

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