Senator wants Wells Fargo CEO to resign and be criminally invest - KWWL - Eastern Iowa Breaking News, Weather, Closings

Senator wants Wells Fargo CEO to resign and be criminally investigated

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Senator Elizabeth Warren blasted Wells Fargo's CEO John Stumpf on Capitol Hill on Tuesday.

Stumpf was there to answer questions about the bank's bogus account scandal.  This all coming after Wells Fargo employees created more than two-million unauthorized accounts to meet sales goals.

"This is about accountability," Warren said, adding that he should pay back money and resign - and, she added, "you should be criminally investigated by both the Department of Justice and the Securities and Exchange Commission."

Wells Fargo was fined $158 million earlier this month after it was revealed employees created 1.5 million checking and savings accounts and 500,000 credit card accounts to meet high sales targets.

Carrie Tolstedt was a senior executive in community banking and oversaw the department who opened the fraudulent accounts.  She retired but reportedly got a $125 million package - as regulators investigated. On Tuesday, members of the panel on Capitol Hill said she should give them money back immediately. 
 

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