Fourteen senators are calling on the Justice Department to open a criminal investigation of Wells Fargo executives after revelations that bank employees opened millions of fake bank and credit card accounts. House and Senate hearings last month with Wells Fargo CEO John Stumpf "raised serious questions" that point to possible wrongdoing by Stumpf and other high-ranking executive, said the senators, all but one of them Democrats. U.S. and California regulators have fined San Francisco-based Wells Fargo $185 million, saying bank employees trying to meet aggressive sales targets opened up to 2 million fake deposit and credit card accounts in customers' names. In their letter, the senators urged Attorney General Loretta Lynch to hold Wells Fargo accountable as a corporation and also prosecute individual executives who may have broken the law. In a related development, 11 Democratic senators, including Hirono, Merkley and Warren, signed a separate letter calling on Wells Fargo to comply with laws intended to protect military service members from predatory financial practices.

Source: Fox News October 06, 2016 21:06 UTC