Lawmakers to Wells Fargo CEO: ‘Why shouldn’t you be in jail?’; Washington Post, 9/29/16

Renae Merle, Washington Post; Lawmakers to Wells Fargo CEO: ‘Why shouldn’t you be in jail?’ :

"Some members peppered Stumpf with questions about whether he should be criminally prosecuted.

“Why shouldn’t you be in jail?” asked Rep. Michael E. Capuano (D-Mass.) “When prosecutors get hold of you, you are going to have a lot of fun.” “Do you think what you did was criminal?” Rep. David Scott (D-Ga.) asked. Stumpf responded that he had led the bank with “courage,” but was interrupted again...

“We have a culture based on ethics, and doing what’s right,” Stumpf said to the committee. “I stand with the people who are doing the right thing.”

Several lawmakers noted that despite Stumpf's emphasis on ethics, the bank has been hit with various fines over the past decade, including some linked to the housing crash."

Wells Fargo Case Prompts Questions Of Corporate Ethics Reform; NPR, 9/24/16

[Podcast] NPR; Wells Fargo Case Prompts Questions Of Corporate Ethics Reform:

"The bank's CEO appeared before a Senate banking committee this week to answer questions about fake accounts created by more than 5,000 of his employees. Scott Simon talks with consultant Dov Seidman."

Wells Fargo CEO Takes Responsibility For ‘All Unethical’ Practices; Reuters via Huffington Post, 9/20/16

Reuters via Huffington Post; Wells Fargo CEO Takes Responsibility For ‘All Unethical’ Practices:

"The chief executive officer of Wells Fargo & Co on Tuesday apologized for the bank’s opening as many as 2 million bogus customer accounts that could generate fees for the lender.

“I accept full responsibility for all unethical sales practices,” CEO John Stumpf told a congressional panel...

[Ohio. Sen. Sherrod] Brown said employees were caught “forging signatures, and stealing identities, Social Security numbers, and customers’ hard-earned cash, so as to hang on to their low-paying jobs and make money for the high-paying executives at Wells Fargo.”"

‘You should resign': Elizabeth Warren excoriates Wells Fargo CEO John Stumpf; Washington Post, 9/20/16

Jena McGregor, Washington Post; ‘You should resign': Elizabeth Warren excoriates Wells Fargo CEO John Stumpf:

"In at least a couple of instances, she used the bank's own words against him. She began by reading from the bank's "vision and values statement," which says "we believe in values lived, not phrases memorized," and "if you want to find out how strong a company's ethics are, don't listen to what its people say. Watch what they do."

So, she said, "let's do that," noting Stumpf had repeatedly said "I'm accountable." Then she drilled into questions where he was unable to affirmatively answer that he had resigned, handed back money he'd earned or fired any senior executives."