Thank you for your patience, without objection the chair is authorized to declare recess of the committee at any time. This hearing is entitled holding wells fargo accountable, examining the role of the board of directors in the banks egregious pattern of consumer abuses i now recognize myself for four minutes to give an Opening Statement. Today we receive testimony from ms. Elizabeth duke and mr. James quigley who until earlier this week served as chair of the board of directors of wells fargo and company and Wells Fargo Bank respectively. Both have resigned after our call for their resignations following the release of a scathing majority staff report on wells fargos compliance failures and their individual failures as Board Members. But their 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 their companys shareholders, employees and cust
Support that employee needs, whether its emotional support, whether they need attention in the Emergency Department or any kind of physical or behavioral support they need. So its quite a lot that we do to respond. Supervisor stefani i just want to make sure, too, because if a violent incident is occurring, like say someone is under meth induced psychosis and in that moment a nurses life is threatened, how quickly i know there is the deputy sheriff. I just want to make sure the Response Time is quick and thats what im trying to get at. Its not just verbal assault from what i heard, especially with p. S. And what were experiencing on the street with methamphetamine and what that can do to people and what that can do to the nurses. I didnt mention the sheriffs department. We have a multimillion dollar contract with the sheriffs department. We have posted positions. We have roefg positions. Our Security Director oversees that contract. We have a captain and many others throughout the heal
The committee will come to order. The gentleman from texas, mr. Green, who is also the chair for subcommittee and oversight for investigations is recognized for five minutes. Thank you, madam chair. Madam chair, as a practitioner, i once represented a recipient of welfare who was charged with a crime because she made more money at a job and received some benefits from the federal government. She had to be prosecuted. A crime was alleged. If this bank, where its mu was smaller, had maybe ten employees, had engaged in this type of activity, opening fraudulent accounts, creating fraudulent credit cards, someone would be prosecuted. A small bank would have had prosecutions take place within the ranks of the person within the bank. Evidence shows that small banks have had persons prosecuted. But wells fargo created 1. 5 million fraudulent accounts. Wells fargo had over 500,000 credit cards created, fraudulently. Is it the case that if you become so big and you create such a grand scheme, th
Suggest that report such as these should be not only verbal, but written. There is a lot of information my mind was ticking away and trying to record what you were saying, which is very informational and very concise and i appreciate that, but i would like to be able to mull over the information youre giving us. So that im clear, we have the information in the report and the explanations are in the report, so he when he comes up, he sort of summarizing what is in the report. Are you suggesting we should do a sumization of what youre going to give . Right. If i go back and maybe its just me and my colleagues, i cant come back with all the facts in front of me. Its a good thing to think about. Things that may be of interest that may surface on the language around what the issues and challenges we face is effectively verbatim from what is in the report, but perhaps we can reformat. Right. I think the other factor weve got to keep in mind, that you live this day in and day out, so when you
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 distraction, we are examining the conduct and the dereliction of duty. Over the pas