Wells Fargo Once Again in DOJ’s Hot Seat

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Posted To: MND NewsWire

Following a full committee hearing on Tuesday morning that featured Charles W. Scharf, Chief Executive Officer (CEO) and President of Wells Fargo & Company, the House Financial Services Committee (FSC) has asked the Department of Justice to review earlier testimony of one of his predecessors. In a letter to Attorney General William P. Barr, FSC Chair Maxine Waters (D-CA) said a year-long FSC staff investigation into Wells Fargo’s compliance with five regulatory orders found that former Wells Fargo Chief Executive Officer Tim Sloan gave inaccurate and misleading testimony during a Committee hearing on March 12, 2019. The letter continued, “Because this matter involves a potential violation of a federal criminal statute, I am requesting that the DOJ review Mr. Sloan’s testimony along with…(read more)

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