John Chiang

Lawmakers spew vitriol at Wells Fargo CEO and ramp up demands for wider probe of banking industry

Lawmakers spew vitriol at Wells Fargo CEO and ramp up demands for wider probe of banking industry

Lawmakers on Thursday intensified their calls for a wide-ranging probe into Wells Fargo & Co. — and into the practices of other banks — as political fallout from the San Francisco institution’s creation of unauthorized accounts continues to grow.

During a vitriol-filled, four-hour hearing on Capitol Hill, members of the House Financial Services Committee lambasted Wells Fargo Chairman and Chief Executive John Stumpf, saying that his bank violated numerous federal laws and that its sins should lead to a broad review of industry practices.

“Your colleagues should at least come forward,” Rep. Brad...

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