Will The DOJ And/ Or The SEC Take Action Against Wells Fargo’s Top Executives?

Excellent post! Good question: will they? All we can do is wait and see ..

Gronda Morin

John Stumpf John Stumpf

On 9/20/16, the Wells Fargo CEO, John Stumpf testified before the U.S. congress where he was aggressively questioned by U.S. senators from both sides of the aisle about the millions of bank accounts opened without the consumers’ knowledge or prior approval.

It has been alleged that the financial service representatives were under such intense pressure to cross sell at each and every customer contact, in order to attain the goal of 6 to 8 accounts per client, that some agents sold bank products without their customer’s knowledge to pad their stats. In comparison, the vast majority of financial institutions average 3 accounts per client.

Wells Fargo Call Center

While  Mr. Stumpf’ delivered his opening statement to the senators, he claimed that, he as the CEO, was taking full responsibility for the harm that has been done to their customers and that the company would be taking the appropriate corrective steps, including the recent firings of 5,300 low…

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About Dr. Rex

I'm originally from Puerto Rico. I was born in Santurce and raised in Rio Piedras. Have lived in Florida since 1999. I have a doctorate degree in Medicine; completed in 1976. My Internal Medicine specialty was completed in 1979. Worked for Puerto Rico's health system until 1985. At this time, I'm happily retired after working for the federal government for almost 28yrs. I want to offer any knowledge that I have to anyone "out there" who is interested. My views are liberal in almost every sense. My knowledge is "eclectic" - a bit of everything. Music and reading are my passion. Blogging has also become a very interesting endeavor. Metaphysical topics attract me. I'm interested in news reporting human issues like injustice, discrimination and abuse - the "wrongly" affected. My intention is to bring this knowledge to an understandable level and to help anyone in need. I'm open to questions and will answer them to the best of my ability. Currently working on an enterprise whose main mission will be to bring peoples of all walks of life together. To be one .... since we ALL are ONE!! The future looks bright and promising!!!

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