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
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 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
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
Public Service Americas cabletelevision companies and is brought to you today by her cable or satellite provider. The ceo of wells Fargo Timothy sloan testified before the Senate Banking Committee Last week about changes at the bank since it was revealed that wells fargo had opened an authorized account for some customers. Idaho center mike crapo chaired this twohour hearing. This hearing will come to order. Before begin today let me acknowledge that our nation is to morning and remember the lives lost in las vegas. Our condolences go out to the families affected by this in this crime, at 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 bothon of the senators of nevada are absent today because theyre in nevada. And i know senator heller and center court as master are currently doing all they can. We will remain united in prayer and support with them during this difficult time. Today we
Must do ex parte. If you cannot do ex parte, you can send out a partially filled out renewal form, et cetera. Those are wonderful policy changes, however, since this data is a brand new application, its brand new data points, were looking at tax filing status and all kinds of data we never used before in eligibility, we dont have that in our current data files. Therefore, we must ask the family for that new data. And, therefore, we cant do ex parte for this first year for those folks. So its another challenge for work processes and the workers. But once we get through that, i think its going to be wonderful. Great. Well, we would now like to open this up to questions from those of you in the audience, those of you watching us on line as well as people who might be sending in a question from twitter. We have them roaming around the room with microphones. Please identify yourself first by name or affiliation. If you have a direction for one of our panelists versus another, please do so a