Page 32 - Wells Fargo Bank (C) Case Study

SENATE

& House Financial Services Committee

John Stumpf managed according to Senator Jon Tester to

achieve the almost impossible by uniting the usually

discordant Banking Senate Committee in a chorus of moral

outrage as Democrats and Republicans during both the

House and Senate meetings alike ripped into Stumpf and his

bank denouncing their actions as “theft”, “criminal”,

“unethical” and morally repugnant.

As Stumpf testified before the Senate Committee, “a video
screen on the hearing room’s wall displayed a scroll of more

than a dozen fines Wells Fargo has paid in recent years,

totaling more than $10 billion.”