The committee will come to order. Thank you all for coming today, i dont think all of you for being here. It is our honor to have the deputy secretary of state here to testify on u. S. Policy regarding peoples republic of china. I originally defaulting back in march, however, our need to focus on the Community Protests from doing that. It is important this committee continue its work on its most committing Foreign Policy challenges, obviously china is one of those. As a complete mistrust correctly recognized, china is a strategic in global competitor of the United States. It would be the greatest Foreign Policy challenge the United States faces in decades to come. Policies of the Chinese Communist party undermine u. S. Interests and values, as we share with partners around the world. Covid19 has brought this challenge the fork front of american life. We now know just how much the Chinese Communist partys decisions and actions directly affect u. S. Citizens, our allies and partners in t
Have deputy secretary of state Steven Biegun here to testify. Originally planned to hold this hearing back in march but the need to focus on covid19 prevented us from doing that even as we continue to address the pandemic and the impact on the u. S. Citizens. It is important this can many continue it to work on the most pressing Foreign Policy challenges and obviously chinas one of those. This is especially the case and the topic we are discussing today is a Trump Administration is correctly recognized china as a strategic and global pedant competitor of the United States it will be the greatest foreignpolicy challenge in the decades to come. The policies of the Chinese Communist partys undermined u. S. Interests and values including those we share with allies and partners around the world. Covid19 has brought this challenge to the fore front of american lyford we now know just how much the Chinese Communist partys decisions and actions directly affect u. S. Citizens, our allies and pa
Focusing on covidien team prevented us from doing that even as we continue to address the pandemic and its impact on us citizens it is important we continue the work on most pressing foreignpolicys challenges in china is one of those especially the case with today is the Trump Administration has recognized china is a strategic and global competitor to the United States will be the greatest form policy challenge United States bases in the decades to come the policy of the Chinese Communist party undermine us interest and values including those we share with allies and partners around the world t t. Covid19 has brought this challenge to the forefront of American Life to know just how much the Chinese Communist partys decisions and actions directly affect us citizens our allies and partners in the entire world and we know the pandemic will not stop their behavior whether hong kong the South China Sea or the border the last three years the Trump Administration has tried to put the United S
noise the committee will come to order. Without objection, the chair is authorized to declare recess of the committee at any time. This hearing is entitled Holding Wells Fargo Accountable and ceo perspectives for the bank that broke americas trust. I now recognize myself for five minutes with an Opening Statement. Today, wells far go ceo, charles scharf, will testify before the committee about how he plans to end wells fargo egregious battle of abuse. Hes the third wells fargo ceo to testify before this committee and less than three and a half years. I will note that each time wells fargo ceo testified before this committee, he has resigned soon thereafter. Mr. Charles scharf, you have taken on a massive challenge and while i certainly wish you luck, it is clear to this committee that the bank you inherited is essentially a flawless organization that has caused widespread harm to millions of consumers around the nation. Wells fargo has opened 3. 5 million fraudulent accounts with their
noise the committee will come to order. Without objection, the chair is authorized to declare recess of the committee at any time. This hearing is entitled Holding Wells Fargo Accountable and ceo perspectives for the bank that broke americas trust. I now recognize myself for five minutes with an Opening Statement. Today, wells far go ceo, charles scharf, will testify before the committee about how he plans to end wells fargo egregious battle of abuse. Hes the third wells fargo ceo to testify before this committee and less than three and a half years. I will note that each time wells fargo ceo testified before this committee, he has resigned soon thereafter. Mr. Charles scharf, you have taken on a massive challenge and while i certainly wish you luck, it is clear to this committee that the bank you inherited is essentially a flawless organization that has caused widespread harm to millions of consumers around the nation. Wells fargo has opened 3. 5 million fraudulent accounts with their