Post by Deleted on Sept 20, 2016 23:02:09 GMT 7
John Stumpf, chief executive at Wells Fargo, said he was “deeply sorry” on Tuesday for the more than 2m unauthorized accounts his staff opened for the bank’s customers.
The accounts, ranging from credit cards to checking accounts, were opened by thousands of the bank’s employees in an effort to meet Wells Fargo’s sales quotas and have already led to a record $185m fine.
While testifying in front of the Senate banking committee, Stumpf said he was “deeply sorry” that the bank let down its customers and apologized for violating their trust.
“I accept full responsibility for all unethical sales practices in our retail banking business, and I am fully committed to doing everything possible to fix this issue, strengthen our culture, and take the necessary actions to restore our customers’ trust,” Stumpf said in his prepared remarks.
www.theguardian.com/business/2016/sep/20/wells-fargo-ceo-apology-john-stumpf-congressional-hearing
The accounts, ranging from credit cards to checking accounts, were opened by thousands of the bank’s employees in an effort to meet Wells Fargo’s sales quotas and have already led to a record $185m fine.
While testifying in front of the Senate banking committee, Stumpf said he was “deeply sorry” that the bank let down its customers and apologized for violating their trust.
“I accept full responsibility for all unethical sales practices in our retail banking business, and I am fully committed to doing everything possible to fix this issue, strengthen our culture, and take the necessary actions to restore our customers’ trust,” Stumpf said in his prepared remarks.
www.theguardian.com/business/2016/sep/20/wells-fargo-ceo-apology-john-stumpf-congressional-hearing
