Last year wells fargo ceo Timothy Sloan came under congressional scrutiny after revelations the bank created millions of accounts without authorization from customers. Tuesday he gave an update on how wells fargo is addressing past wrongdoing and changing business practices. The searing will come to order. Before we begin let us remember that were still mourning those lives who are lost in our thoughts go to the courageous First Responders who put their lives on the line to save others. Both centers of nevada arse absent today because theyre in nevada. I know that senator heller and cortez are doing all they can there we will be reunited in prayer and support with them during this difficult time. Today will hear testimony from wells fargo chief executive officer. Over a year ago john testified in front of this committee on the bank bank account scandal and his handling of the fallout. Of the many issues emphasized during the Committee Members one was the need to hold executives account
Ceo Timothy Sloan appeared before the Senate Banking committee yesterday. He testified on the banks business practices. Last year the bank was found to set up several unauthorized accounts without customers knowledge. Mr. Sloan was asked about changes that were made in light of that disclosure and how the company was complying with federal regulations. This is about two hours. This hearing will come to order. Before we begin today, let me acknowledge that our nation is still mourning and remembering the lives lost in las vegas. Our condolences go out to the families effected by this heinous crime and our thanks go to the courageous First Responders and police and citizens who put their lives on the line to save others. Two members of this committee, both of the senators of nevada, are absent today because they are in nevada. And i know that senator heller and cortezmasto are doing all they can there and we will remain united in prayer and support with them during this difficult time. T
The searing will come to order. Before we begin let us remember that were still mourning those lives who are lost in our thoughts go to the courageous First Responders who put their lives on the line to save others. Both centers of nevada arse absent today because theyre in nevada. I know that senator heller and cortez are doing all they can there we will be reunited in prayer and support with them during this difficult time. Today will hear testimony from wells fargo chief executive officer. Over a year ago john testified in front of this committee on the bank bank account scandal and his handling of the fallout. Of the many issues emphasized during the Committee Members one was the need to hold executives accountable and to ensure customers impacted will be made whole. He committed the bank would take necessary actions to make it right and restore the public and Investors Trust in the company. Incidents like these remind us how important it is to Institute Policies and procedures tha
Ends. And 16 in late august, early september, i talked to our team about it and we decided at that point in time to end and tell our vendor it quit providing that insurance to our customers, and that was effective at the end of september. We then created an internal group, made up of business line experts, legal experts, our auditing function to look at the matter. We brought in an independent law firm and an independent Consulting Firm to help us do a comprehensive and Third Party Review of the remediation. We got the results of their report in the First Quarter of last year. We began to put together the remediation plan and our and we disclosed that remediation the presiding officer the senate will come to order. The clerk will read a communication to the senate. The clerk washington, d. C. , october 10, 2017. To the senate under the provisions of rule 1, paragraph 3, of the standing rules of the senate, i hereby appoint the hon earable roy blunt, honorable roy blunt, a senator from
This is deja vu news live from berlin the deadliest fires in california so straight are ripping across the north of that state leaving a trail of destruction amergin says services are struggling to contain the blaze was that of destroyed wine country and reduced the entire neighborhood staff will go to that region also coming up the United States and israel are pulling out of the United Nations Cultural Agency unesco washington says the organization is deeply anti israel and has not made much needed reforms. Unless plus the female superheroes fighting Child Marriage in ethiopia theyre breaking taboos by bringing hard topics and tough discussions into that nations classrooms. Rule. Im brian thomas welcome to the show thirty one people are now confirmed dead in the wildfires raging across Northern California making them the deadliest not States History and the death toll is expected to rise further with hundreds of people still missing the blazes have been burning since sunday in wine co