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September 29, 2016 11:54 am PDT

Watch Wells Fargo CEO John Stumpf get raked over the coals by Congress

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Here's two hours of Democratic and Republican congresspeople not taking any weaselly bullshit from disgraced Wells Fargo CEO John Stumpf.

In September 2016, Wells Fargo was issued a combined total of $185 million in fines for creating over 1.5 million checking and savings accounts and 500,000 credit cards that its customers never authorized. The Consumer Financial Protection Bureau issued $100 million in fines, the largest in the agency's five-year history, along with $50 million in fines from the City and County of Los Angeles, and $35 million in fines from the Office of Comptroller of the Currency. The scandal was caused by an incentive-compensation program for employees to create new accounts. It led to the firing of nearly 5,300 employees and $5 million being set aside for customer refunds on fees for accounts the customers never wanted.

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Original Link: http://feeds.boingboing.net/~r/boingboing/iBag/~3/UfIz6i9bX9c/watch-wells-fargo-ceo-john-stu.html

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