Wells Fargo (WFC) CEO John Stumpf is fielding questions from the Senate Banking Committee today on nearly 2 million accounts that may have been opened without customer approval by employees attempting to meet sales goals.
Stumpf is joined by Thomas Curry, the Comptroller of the Currency, and Richard Cordray, the head of the Consumer Financial Protection Bureau, who announced a $185 million settlement with the San Francisco-based bank in the matter earlier this month. The unauthorized accounts stretched over at least a five-year period and involved roughly 5,300 employees who have since been fired.
