Senator Elizabeth Warren’s two round of questions for Wells Fargo CEO John Stumpf at the September 20, 2016 Senate Banking Committee hearing entitled: “An Examination of Wells Fargo’s Unauthorized Accounts and the Regulatory Response.” For more information on the hearing, click here: …(read more)
LEARN MORE ABOUT: Bank Failures
REVEALED: Best Investment During Inflation
HOW TO INVEST IN GOLD: Gold IRA Investing
HOW TO INVEST IN SILVER: Silver IRA Investing
Senator Elizabeth Warren has once again made headlines for her fearless interrogation of Wells Fargo CEO John Stumpf during a recent Banking Committee hearing. The Massachusetts senator has long been an advocate for consumer protection in the financial sector and has been a vocal critic of the banking industry’s predatory practices.
During the hearing, Senator Warren did not hold back in her questioning of Stumpf, who has come under fire for the bank’s fraudulent account scandal. Warren demanded answers regarding the company’s unethical sales tactics that led to the creation of millions of unauthorized customer accounts. She grilled Stumpf on why he was not taking responsibility for the fraud that had occurred under his leadership, and she pushed him on what actions he planned to take to make amends to the affected customers.
Warren’s tough line of questioning made it clear that she was not going to let Stumpf off the hook easily. She had previously called for his resignation and insisted that he should be held accountable for the harm caused to Wells Fargo’s customers. Her relentless pursuit of justice for the victims of the scandal has earned her widespread praise from the public and has cemented her reputation as a principled and tenacious lawmaker.
Senator Warren’s passion for holding powerful corporations accountable and her commitment to advocating for the rights of everyday Americans were on full display during the hearing. Her pointed questions and unwavering determination to seek the truth made it clear that she was not there to play political games or go easy on Stumpf.
The exchange between Warren and Stumpf was a reminder of the crucial role that lawmakers play in holding corporate leaders accountable for their actions. Warren’s aggressive line of questioning demonstrated the importance of robust oversight and regulation in the financial industry to ensure that companies like Wells Fargo do not exploit their customers for their own gain.
In the end, the confrontation between Senator Warren and CEO Stumpf underscored the power of elected officials to demand transparency and accountability from corporate leaders. Warren’s unwavering commitment to fighting for the rights of consumers has solidified her position as a champion for the people, and her actions at the Banking Committee hearing serve as a reminder of the critical need for strong advocacy in the halls of power.
Invisible z 74
2:44 8 accounts
78.85829° N, 147.59000° W
What is the difference between the internet and Bitcoin?
Not a damn thing. Neither requires permission from anyone to use.
Imagine how many people would stop using the internet if Senator Warren ‘threatened’ to take it away.
She is correct!!
She is brilliant! So awesome how she goes to bat against these clowns!
it's all a big show – CEO still never saw a 6×6…but he should have been arrested right there.
You also know in the occupation of fraud we don't go to insurance we go to criminal court
Now these are people that designed stuff in machine learning artificial intelligence to learn how to turn stuff against the developer to gain control but you want the bank teller to understand who is the person committing the fraud well it's the designers of the technology or programming who isolated the rotation against the other businesses or public who turn the equipment backwards
So sweetheart these are companies that build equipment design stuff to sell to the public that means there should be no trace of any fraudulent activity you think it's okay that they design programming and technology to learn against the provisions of what the person wants to learn to build or design so you think they have the right to promote grand larceny to strategize against the concept of the dreams that America has as independency you know when the law of America we have espionage are you taking part now
So you're sitting there talking about artificial intelligence on one of the ones I'm watching you know you're wanting to have regulations but y'all was the regulations there at one point and now you're trying to move it to AARP and insurance company to have oversight in it I don't think so we need to military because what y'all are congressionally hiding in these rotations by giving them permission to do stuff and then taking it away and then covering the response organizations of it into private y'all are proving to be the kingpins of organized corruptions
Thank you!!!
Thank you for looking out for working families!!!
YOU ARE A Wicked Individual! God will Punish you! Cabal Satanists!
Gutless leadership!
KBLWY BANKS MAUWL WALL STREET
throw this guy in prison
throw him in jail
This is exactly why I use Bank of America.
Hello ben bu Bancdan para qazanisam bank iscileri bana yazsin
I wrote this as a response to someone who praised her moral compass, and another who said they left the company to maintain their integrity, but it works as a response to the video as a whole.
Her moral compass is: being paid $174,000 of money forcibly stolen from the incomes -earned – by individuals, so she can lead an illegitimate and unnecessary bureau on a fake investigation, steering a one way conversation because she's too afraid to let the man even speak a full sentence, all so she can make it clear to anyone successful that in order to conduct business, she has to get her hush money first.
Her goal is clearly to strike down a company so that she can stand atop it's carcass as the queen to whom all tribute must be paid and from whom all permission must be granted for anyone who dares to make more than the $174,000 in stolen money she is given (not earned) each year.
She seems to be as corrupt as they come. If Wells Fargo were a worthless company, they wouldn't be in business. If people hated working for them, they wouldn't. If customers hated their service, they'd choose a competitor.
If Warren wants to do something productive and valuable to society, she needs to start by investigating and convicting every single employee who committed fraud against innocent customers.
Leaving is what anyone who couldn't meet the quotas ethically should have done. There is absolutely no excuse, however, for those employees who did commit fraud when they couldn't meet the goal. Defrauding someone else to save your own skin is exactly what Warren is accusing the CEO of, when in reality he just set a good goal for his company. If everyone who couldn't meet the goals ethically would have left, the issue would have sorted itself out without a single fraudulent account. I think eight accounts for every single customer is unrealistic, but is not a bad goal to shoot for. Did CDs, savings, investments, retirement, etc count towards the quota? Because those are all good things that will earn customers money and could help with meeting that eight account goal.
Ultimately the act of fraud rests squarely on the shoulders of those employees who actually committed it. For those who couldn't meet the goal, they clearly weren't the right fit for the company and shouldn't want to work there anyways if they're not. Wells Fargo has every right to choose who works for them and they clearly want people excellent with ethical (not fraudulent) sales. There's absolutely nothing wrong with that.
That said, I do think eight accounts could have started lower and had a build up, while training employees on why and how it benefits the customer. To me it seems the CEO's fault was having too much confidence in his employees' ability meet high goals without hand holding. And this is all assuming he -didn't – instruct his managers to teach the employees how to sell accounts, which I'd bet he did.
Wow Shots fired ! Shots Fired !
anger of men Using rubber and Countries burning Leaf leaves
Ride a jeep and get Rude Treatment
Poorest the world have to To knife they got TV Not your Con