Board of directors chair, elizabeth duke, and former board member james quigley. Thank you. This hearing is entitled Holding Wells Fargo Accountable examining the roll of board of directors and that the greatest patterns of consumer abuses. Today, we received testimony from elisabeth and mr. James quigley who until earlier this weeks are as chair of the board of directors of wells fargo and companys Walls Fargo Bank respectively. Both have resigned as our call for the resignations following the release of us phasing majority statute on wells fargos compliance failures in their individual failures as Board Members. Resignations do not absolve them of their failures. Directors at wells fargo, and institutions across this country must understand that they are the last line of defense when it comes to protecting your companys shareholders, employees and customers. And while ms. Duke mystically said said, there resigned to quote, avoid distractions that would be cleared and this is not a di
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 customers names which ca
Cspan, your unfiltered view of government. Created by campell and 97 and brought to you today by your television provider. The former wells fargo executive testified themselves as the consumer abuses that led to the executives earnings. Members of the House Financial Services committee question the witnesses on their actions at wells fargo and why no one has been prosecuted for the consumer abuses. This is just over two and a half hours. Thank you. This hearing is entitled Holding Wells Fargo Accountable examining the roll of board of directors and that the greatest patterns of consumer abuses. Today, we received testimony from elisabeth and mr. James quigley who until earlier this weeks are as chair of the board of directors of wells fargo and companys Walls Fargo Bank respectively. Both have resigned as our call for the resignations following the release of us phasing majority statute on wells fargos compliance failures in their individual failures as Board Members. Resignations do n
Cultivating honey bees on city rooft rooftops, and well even get a taste taste on this friday, september 9th. From abc news, this is world news now. Good morning. Im nick watt in for kendis gibson. Im diane macedo. I think ill taste all the honey for you. I have my own pot. Use as much as you like. The penalties levelled against one of the countrys biggest banks. About 5300 been fired after opening over 2 million unauthorized accounts without customers knowing. Federal regulators and the city of los angeles are fining wells far doe 185 million. A top federal regulator calls it abusive. Reporter wells fargo under fire. Thousands of employees at the bank accused of secretly using customer information and million savings and credit card accounts. To meet sales goals, bankers at branches across the country would temporarily siphon money from real Bank Accounts into the secret accounts. Keeping customers in the dark, even creates phony email addresses and fake pins to cover their tracks. Cu
I guess its only fitting on Armed Forces Week that you used your knowledge of the navy to get to 100,000. [cheers and applause] 100,000. [cheers and applause] [horn blares] all right, jason. That sound means that time is up for today. 100,000. The Lieutenant Commander is 3 away from 1 million. Could he be the one . Well find out next time. For everyone whos been a part of this one, im chris harrison. Well see you next time. Closed captioning sponsored by you brush your teeth diligently. Two times a day, right . But 80 of your mouths bacteria arentt even on teeth. Eughty purschunt . colgate totals different. It fights bacteria on teeth, tongue, cheeks and gums. Protecting 100 of your mouths surfaces. Colgate total for whole mouth health. Its the second leading Cancer Killer in the u. S. But, it is almost entirely preventable. Most colon cancers start as polyps. And screening finds polyps, so they can be removed, before they even turn into cancer. If youre over 50, get screened for color