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CSPAN3 Wells Fargo CEO Testifies Before House Financial Services July 13, 2024

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 c ....

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CSPAN2 Wells Fargo CEO Testifies Before House Financial Services July 13, 2024

[inaudible conversations] [inaudible conversations] [inaudible conversations] the committee will come to order. The gentleman from illinois mr. Foster is recognized for five minutes. Thank you, madam chairman. Mr. Scharf, iraq with the concerns my colleagues on this committee about the extensive shortcomings of west fargo over a number of years past and do hope you are as committed and as successful in turning your dash as you stated in your testimony. Id like to bring up the issue of dreamers. This is ang issue that hits cle to home. Last summer a dreamer from illinois filed suit because he was wrongfully denied an auto loan because of his daca status. I was glad to see some of the changes that wells fargo has decided to implement recently including its plan to provide Daca Recipients with credit products, education loans and mortgages. I cannot emphasize enough how important this commitment is and hope you worked work diligentl ....

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CSPAN3 House Financial Services Hearing On Wells Fargo Part 2 July 13, 2024

The chairman of the gentleman from mr. From texas is recognized. Thank you madam chair. Madam chair, as a practitioner, i once represented a rips recipient of welfare who is charged with a crime, because she made more money at a job and receiveds some benefits from the federal government. She had to be prosecuted. A crowned with allege. If this bank works much smaller, had maybe ten employees who were engaging in this type of activity, opening an opening up false accounts, fraudulent accounts, creating fraudulent credit cards. Someone would be prosecuted. If small banks would have had prosecution take place within the rank 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 steam, that you are beyond the law of the law to apply to wells fargo just does it ap ....

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CSPAN3 House Financial Services Hearing On Wells Fargo Part 2 July 13, 2024

The chairman of the gentleman from mr. From texas is recognized. Thank you madam chair. Madam chair, as a practitioner, i once represented a rips recipient of welfare who is charged with a crime, because she made more money at a job and receiveds some benefits from the federal government. She had to be prosecuted. A crowned with allege. If this bank works much smaller, had maybe ten employees who were engaging in this type of activity, opening an opening up false accounts, fraudulent accounts, creating fraudulent credit cards. Someone would be prosecuted. If small banks would have had prosecution take place within the rank 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 steam, that you are beyond the law of the law to apply to wells fargo just does it ap ....

New York , United States , Seema Cfpb , Alan Parker , Charlie Scharf , Bank Works , Wells Fargo , Credit Cards , Law Law , Small Bank , Photograph Office , Border Well , Car Dealer , Long Long , Practices Center , Management Community , Third Party , Risk Management , Public Statement , Accurate Information , Communication Community , Liaison Officer , Higher Quality , Just Say , Hope Institution , Many People ,

BLOOMBERG Bloomberg Daybreak Americas July 13, 2024

We start with the u. S. Senate bill aimed at supporting hong kong protesters. Ministry said in a statement that it blatantly interferes in Hong Kong Affairs and other china internal affairs. Bloombergs great at china editor karen leigh, walk us through what happened. Karen this follows chinas line telling the u. S. To back off when it comes to hong kong. The into options that it could take. Sees a bit hong kong of a more normal daytoday after many days off, and a standoff between protesters and police is coming slowly to an end. Looking ahead towards district elections on sunday. Should the government delay or postpone them, that could lead to more protests, so all eyes sickly turn to next weekend. Eyes basically turn to next weekend. Alix thank you. Bloombergs matt miller joins us from frankfurt. Walk us through the highlights of the report. This twice a year, as you said. They think this is a part of the responsibility they h ....

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