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State senator blasts Wells Fargo for 'bad faith' as bank skips hearing

The chairman of the California Senate’s banking committee blasted Wells Fargo on Monday for failing to answer questions about the bank’s accounts scandal and for not sending Chief Executive Tim Sloan or another representative to a committee hearing. Committee Chairman Steve Glazer (D-Orinda) said...

Macro Musings Podcast: Mark Calabria

My latest Macro Musings podcast is with Mark Calabria of the Cato Institute. We discussed his time doing financial regulation and Fed policy as a senior staffer on the U.S. Senate Committee on Banking, Housing, and Urban Affairs. We also spent some time discussing his new paper on applying behavioral economics to Fed policy. Show More Summary

The Missing Public Voice: My Comments on the Copyright Board at the Senate Banking Committee

The Senate Standing Committee on Banking, Trade and Commerce conducted two days of hearings last week on the Copyright Board of Canada. The hearings featured members from the Board, leading copyright collectives and associations, and a panel of individuals that included law professors and practitioners. Show More Summary

Bayh didn't stay overnight in Indiana condo once in 2010

The Democrat stayed at hotels, used campaign funds, public money or let others pick up his tab. Campaign spokesman Ben Ray says it was normal for Bayh to meet with financial leaders because he served on the Senate banking committee.

Indiana Right to Life Endorses Pro-Life Senate Candidate Todd Young

The Indiana Right to Life Political Action Committee (PAC) endorses Todd Young in his race for U.S. Senate. The PAC also endorses U.S. House candidates Jackie Walorski (District 2), Jim Banks (District 3), Todd Rokita (District 4), Susan Brooks (District 5), Luke Messer (District 6), Catherine (Cat) Ping (District 7), Larry Bucshon (District 8) and […]

Wells Fargo CEO Stumpf Tries to Brazen Out Fraud as Congressmen Call Wells a “Criminal Enterprise,” Demand Breakup

John Stumpf is the gift that keeps giving to bank reformers. The embattled CEO of Wells Fargo put in another poor showing in the House Financial Services Committee today, as Stumpf largely reprised his performance from the Senate last week: Asserting that he would “make it right” to all harmed customers, when the bank’s plans […]

Income Investors Just Got A Gift From The SEC

WASHINGTON, DC - JUNE 14: SEC Chairman Mary Jo White testifies during a Senate Banking, Housing and Urban Affairs Committee hearing on Capitol Hill, June 14, 2016 in Washington, DC. (Photo by Mark Wilson/Getty Images) Cheap bonds are hard to find in a world dominated by negative short-term interest rates. Record-low [...]

Why L.A. City Atty. Mike Feuer knew the Wells Fargo scandal was going to blow up

After Wells Fargo & Co. Chief Executive and Chairman John Stumpf was grilled by members of the Senate Banking Committee last week, regulators took the stand to answer senators’ questions about their investigation into the bank’s sales practices. But one key figure was missing from the action: Los...

Robert Reich: Congress pretends to shame corrupt CEOs – but does nothing to stop their crimes

2 months agoNews : The Raw Story

Last week, Congress engaged in a bipartisan barrage of CEO bashing. The Senate Banking Committee assailed Wells Fargo CEO John Stumpf for pushing employees to create as many as two million bogus bank and credit card accounts without customer’s consent – making customers pay overdraft and late fees...

Robert Reich: Here's How Big Bank and Pharma CEOs Get Away With Fraud and Greed

Click here for reuse options! Hollering at them won't work; Congress needs to take action. Last week, Congress engaged in a bipartisan barrage of CEO bashing. The Senate Banking Committee assailed Wells Fargo CEO John Stumpf for pushing...Show More Summary

Time for Congress to Stop Hollering at CEOs and Take Action

Last week, Congress engaged in a bipartisan barrage of CEO bashing.The Senate Banking Committee...

Video: Elizabeth Warren Rakes Wells Fargo Chairman Over the Coals

2 months agoTravel / Air Travel : The Gate

Elizabeth Warren — who is one of two Senators of the United States representing the state of Massachusetts — is featured in this video at the Senate Banking Committee hearing entitled An Examination of Wells Fargo’s Unauthorized Accounts and the Regulatory Response on Tuesday, September 20, 2016. Show More Summary

Wells Fargo CEO earned his bipartisan wrath

To the editor: The Senate Committee hearing made a compelling case that Wells Fargo Bank committed fraud when opening and maneuvering account services without the customer’s approval or knowledge. ( “‘You should resign’” Sept. 21, “Wells’ poor excuse for a CEO,” Business, Sept. 21 and “Wells is...

Learning from Wells Fargo - Leading with Integrity through Sensory Intelligence

by Dawna Jones, Connecting Decisions to Creating Prosperity The CEO of Wells Fargo, before the US Senate Banking Committee on September 20th, 2016, was repeatedly requested by Senator Elizabeth Warren to accept some degree of accountability for the opening of unauthorized accounts to meet sales targets. Show More Summary

‘You should resign': Elizabeth Warren excoriates Wells Fargo CEO John Stumpf

  The most anticipated face-off of Tuesday's Senate Banking Committee hearing did not disappoint: Democratic firebrand Sen. Elizabeth Warren grilled Wells Fargo CEO John Stumpf in a blistering exchange where she accused him of "gutless...Show More Summary

Wells Fargo too arrogant to own up to its fraudulent ways

``When Wells Fargo chairman and chief executive John Stumpf sat before the Senate Banking Committee this week, he represented a bank too big to fail, too sprawling to manage and too arrogant to own up to its failures... Stumpf informed the senators that what Wells Fargo did "was not a scam," disputed that "this is a massive fraud" and said he had no idea "why people did this."''

'You should resign': Elizabeth Warren excoriates Wells Fargo CEO John Stumpf

The Democratic firebrand delivered an epic grilling of Wells Fargo CEO John Stumpf at Tuesday's Senate Banking Committee hearing

GOP Wants to Cut Agency That Busted Wells Fargo

Wells Fargo CEO John Stumpf faced harsh accusations from members of both parties when he appeared before the Senate Banking Committee. Some of the harshest criticism came from the head of the committee, GOP Senator Richard Shelby, who...Show More Summary

Elizabeth Warren and the Wells Fargo Scam

In case there was any doubt about Elizabeth Warren’s feelings toward John Stumpf, the C.E.O. of Wells Fargo, it was cleared up on Tuesday during a hearing before the Senate Banking Committee. “Okay, so you haven’t resigned, you haven’t...Show More Summary

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