Senate Dems say Wells Fargo not responding to fraud info requests

Eight years they’ve had to investigate the charges that over 40 million of their constituents have been suffering from. And what do they do? Nothing, until someone else – not from their cabal, comes into power. NOW and only now they want to be proactive. Give me a break!

Justice League

U.S. Senate Banking Committee Democrats sent another letter to Wells FargoWFC, +0.07%   on Thursday, asking why their other letters have not yet been answered.

The bank’s management has so far failed to answer all the questions the committee members have put to it, the letter says, following its settlement with multiple regulatory authorities in September for multi-year fraudulent sales practices.

The letter, jointly signed by nine Democrats including Ranking Member Sherrod Brown of Ohio and Elizabeth Warren of Massachusetts, again asked Wells Fargo’s board for a status report on its ongoing investigation of the fraud and a detailed timeline of when the board learned about the illegal practices and actions it took. They also asked why the board didn’t investigate the misconduct sooner.

The senators say Wells Fargo’s management is dodging them, even though its new CEO Tim Sloan told CNBC on October 12 that there were…

View original post 18 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s