Wells Fargo CEO canada goose store John Stumpf grilling
Capuano said Stumpf is "clearly and buy canada goose jacket cheap unequivocally guilty" of a range of crimes, including conspiracy to commit fraud, conspiracy to commit identity theft and racketeering.
Stumpf sought to defend canada goose his bank in front of a very hostile audience of members of the House Financial Services Committee. However, Stumpf wasn't able to get much of a response in beyond his prepared remarks Canada Goose online apologizing for the scandal.
Stumpf was seeking to rebound buy canada goose jacket from a disastrous appearance before the Senate, a hearing that was highlighted by Senator Elizabeth Warren's epic takedown, that quickly went viral on social media and got laughs Canada Goose Jackets on late night television.
He was repeatedly cut off by members of Congress, Republican and Democrat, who pummeled him by comparing him to an actual bank robber and calling Wells Fargo a "school for scoundrels" with a "broken culture," among other things.
uk canada goose outlet Stumpf's appearance comes as calls for his resignation have gotten more strident. Several House members repeated those demands. uk canada goose outlet
cheap Canada Goose "I recognize we canada goose deals could have done more earlier," Stumpf said. "I try to lead with courage and conviction, but of course we make mistakes." cheap Canada Goose
canadian goose jacket Stumpf is defending a scandal that shocked the nation, where it was revealed that his bank opened as many as 2 million fake accounts and fired 5,300 workers since 2011. Questions mount on how he allowed it to happen for so long. Workers pin the blame on a Wells Fargo pressure cooker culture and wildly unrealistic sales goals set by top management. canadian goose jacket
Related: Elizabeth Warren is still furious with Wells Fargo
Some former Wells Fargo workers were also present at the dramatic hearing. The House committee continues to gather thousands of pages of documents and plans to interview Wells Fargo executives.
canada goose clearance "I cheap Canada Goose will not hesitate to issue subpoenas. We will do what is necessary to get to the bottom of this," Rep. Jeb Hensarling, the Republican chairman of the House committee, said on Thursday. He said that after reaching out to more than 20,000 customers, fewer than 25% said they either did not apply or cannot recall. Stumpf said Wells Fargo is closing accounts of those who don't want their cards canada goose black friday sale and informing credit bureaus. canada goose clearance
Rep. Gregory Meeks accused Stumpf of running "basically a criminal enterprise" that reflects poorly on the rest of the banking industry. "You should be fired, because the buck stops with you," he said.
Canada Goose Online Rep. Maxine Waters, whose district includes Los Angeles, said she now believes Canada Goose Parka Wells Fargo should be broken up because it's "too big to manage." Canada Goose Online
Waters, the ranking Democrat on the committee, said Wells Fargo has "refused" to turn over the documents and information lawmakers have requested.
canada goose "It is in your best interest to canadian goose jacket come forward with those documents," warned Waters, who called the scandal "some of the most egregious fraud we have seen since the foreclosure crisis." canada goose
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canada goose uk outlet Wells Fargo first characterized the fake account scandal as a problem that began in 2011. canada goose uk outlet
Former Wells Fargo workers have told CNNMoney the problem goes back even further. One branch manager in Arizona said she was first pressured to instruct employees to open fake accounts in 2007. On Thursday, Rep.
Despite canada goose outlet what Maloney called "clear evidence" of a problem in 2007, Stumpf declined multiple requests from the Congresswoman to expand Wells Fargo's review before 2009.
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canada goose store Maloney also accused Stumpf of "very suspicious" sales of $13 million worth of Wells Fargo stock in October 2013, https://www.canadagoosejacketonlines.ca the largest such sales during his nine years as CEO. canada goose store
uk canada goose "Did you dump $13 million of Wells Fargo stock through your family trust right after you found out that your bank had been fraudulently opening hundreds of thousands of scam accounts?" uk canada goose
Canada Goose sale Stumpf insisted the stock sales were made "with proper approvals and no views about anything going on about sales practices." The CEO also said he owns four times as many shares as required today. Canada Goose sale
buy canada goose jacket cheap "It seems very, very suspicious that it happened right after your bank was turned into a school for scoundrels," Maloney said. buy canada goose jacket cheap
canada goose uk black friday canada goose clearance Rep. Stephen Lynch took things to an even more serious level, suggesting Wells Fargo could be prosecuted under the Racketeer Influenced and Corrupt Organizations Act, the statute known as RICO that has been applied against FIFA as well as canada goose coats members of the Mafia. canada goose uk black friday
Lynch cited allegations of widespread fraud at Wells Fargo as well as claims by former Wells Fargo workers who Canada Goose sale told CNNMoney they were retaliated against after flagging fraudulent activity. "These whistleblowers were intimidated or even fired," Lynch said.
cheap canada goose uk Several lawmakers suggested the House expand the hearing to include the CEOs of other banks. Rep. Brad Sherman said he wants to ensure the "cross selling mania that has afflicted Wells Fargo" is not found elsewhere. cheap canada goose uk
Nearly a dozen current and former employees at large banks have told CNNMoney a sales obsession pervades their banks, too.