Wells Fargo has one heck of a scandal on its hands
Business Insider
Wells Fargo CEO John Stumpf testifies to the Senate banking committee. Win McNamee/Getty Images Wells Fargo CEO John Stumpf endured a nearly three-hour questioning from the US Senate banking committee on Tuesday. Stumpf was constantly taken to task by senators, both Democratic and Republican, for the scandal in which Wells Fargo employees opened roughly 2 million checking and credit accounts without customers' knowledge.
Stumpf also has a difficult task before him: showing that he is accountable without bearing the brunt of the blame.
Essentially, Stumpf's argument is that he accepts responsibility for the scandal, but that senior executives did not create a culture that encouraged the type of behavior that led to employees opening 2 million false accounts.
Look those knots!
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