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

And managing it in a very difeated differently because the person is going to get more points for the higher value. He should not be treated differently. Thank you. And im sure i yield back. The gentlewoman from california is recognized for five minutes. Mr. Scharf have you seen the movie herald and kumar go to white castle . There is a famous scene in that movie where kneel Patrick Harris borrows the car and completely trashes it. Wells fargo lets monies to customers get a car and they want them to protect that car. The collateral, the value. Theres always the kneel Patrick Harris risk. Crashes the car, default on the loan and the value is not enough so there is the risk of a loss. To guard against that loss, wells fargo as consumers pay free gap waivers. Gap stands for guaranteed auto protection. The gap waiver cancels the remaining downs on the loan if the regular auto lia ....

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CSPAN House Financial Services Hearing On Wells Fargo July 13, 2024

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 prote ....

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CSPAN2 House Financial Services Hearing On Wells Fargo Part 1 July 13, 2024

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 hav ....

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CSPAN3 House Financial Services Hearing On Wells Fargo Part 1 July 13, 2024

Thank you for your patience. Without objection, this hearing is entitled holding wells fargo. Agree just pattern of consumer abuses. I recognize myself for four minutes to give an Opening Statement. Today, we receive testimony from Miss Elizabeth duke, and mr. James quigley, who until later this week served as chair of the board of directors of wells forego and company, and Wells Fargo Bank respectively. Both have resigned after a call for the resignations. Following the release of a scathing majority staff report on walls far goes compliance failures, and their individual failures as Board Members. The resignations dont absolve meant them of their failures. Directors at wells fargo and institutions across the country must understand that they are the last line ....

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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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