I am against a business practice that has puts Wells Fargo first and customers second,” said Sen. John Neely Kennedy (R-La.). But it was that aggressive sales culture that led Wells Fargo employees to open millions of fake accounts, she said. “Either way, you should be fired.”Sloan, who was wearing a red-and-gold Wells Fargo pin, defended his track record at the bank and said Wells Fargo was doing more right than wrong. “Wells Fargo is not going to change with you in charge.”The exchanges between Sloan and lawmakers was reminiscent of the beating Wells Fargo took on Capitol Hill last year when its former chief executive John Stumpf appeared before Congress. Wells Fargo also has paid $185 million in fines to regulators and reached a preliminary settlement of a class-action lawsuit for more than $100 million.

Source: Washington Post October 03, 2017 11:03 UTC