Ms. Waters the committee will come to order. Without objection, the chairs authorized to declare a recess of the committee ms. Waters the committee will come to order. Without objection, the chairs authorized to declare a recess of the committee at any time. This hearing is entitled holding megabanks accountable, a review of global systemically important banks 10 years after the financial crisis. I now recognize myself for four minutes to give an opening statement. Statement. I would like to acknowledge that bruce marks and the neighborhood assistant Corporation Members are here in the audience today. Youre welcome. Today this committee convenes for a hearing on the u. S. Global systemically important banks. Before us today as witnesses we have the chief executives from bank of america, bank of new york melon, citigroup, Goldman Sachs, Jpmorgan Chase, Morgan Stanley, and state street. At a previous hearing on march 12, we had wells fargo, then c. E. O. , before the committee to testify
We heard from Jpmorgan Chase c. E. O. And bank of america c. E. O. This is about an hour and 45 minutes. Ms. Waters the committee will come to order. Without objection, the chairs authorized to declare a recess of the committee at any time. This hearing is entitled holding megabanks accountable, a review of global systemically important banks 10 years after the financial crisis. I now recognize myself for four minutes to give an opening statement. I would like to acknowledge that bruce marks and the neighborhood assistant Corporation Members are here in the audience today. Youre welcome. Today this committee convenes for a hearing on the u. S. Global systemically important banks. Before us today as witnesses we have the chief executives from bank of america, bank of new york melon, citigroup, Goldman Sachs, Jpmorgan Chase, Morgan Stanley, and state street. At a previous hearing on march 12, we had wells fargo, then c. E. O. , before the committee to testify. Before i begin, let me urge
The committee will come to order. Without objection, the chair is authorized to declare a recess of the committee at any time. This hearing is entitled holding megabanks accountable. An examination of wells fargos pattern of consumer abuses. And i now recognize myself for four minutes to give an Opening Statement. Today we examine wells fargos egregious pattern of consumer abuses. Our witness today is mr. Timothy sloan, president and chief executive officer of wells fargo and company. I would like to begin by recounting some of wells fargos recent harmful actions that we are aware of. Between 2011 and 2016 wells fargo fraudulently opened millions of unauthorized accounts, costing their customers millions of dollars. In september 2016 the Consumer Bureau, the office of the comptroller of the currency and the Los Angeles City attorney imposed a collective 185 million fine. From 2006 to 2016 the bank charged Service Members illegal fees, failed to disclose their active duty status in evic
Says wells fargo has made in their approach to Customer Service since becoming ceo. Questions from the members of the House Financial Services committee, citing examples of what they described as consumer abuse and predatory practice. 10s runs four hours and minutes. The committee will come to order. Without objection, the chair is authorized to declare a recess of the committee at any time. This hearing is entitled holding megabanks accountable. An examination of wells fargos pattern of consumer abuses. And i now recognize myself for four minutes to give an Opening Statement. Today we examine wells fargos egregious pattern of consumer abuses. Our witness today is mr. Timothy sloan, president and chief executive officer of wells fargo and company. I would like to begin by recounting some of wells fargos recent harmful actions that we are aware of. Between 2011 and 2016 wells fargo fraudulently opened millions of unauthorized accounts, costing their customers millions of dollars. In sep
Pattern of consumer abuses. And i now recognize myself for four minutes to give an Opening Statement. Today we examine wells fargos egregious pattern of consumer abuses. Our witness today is mr. Timothy sloan, president and chief executive officer of wells fargo and company. I would like to begin by recounting some of wells fargos recent harmful actions that we are aware of. Between 2011 and 2016 wells fargo fraudulently opened millions of unauthorized accounts, costing their customers millions of dollars. In september 2016 the Consumer Bureau, the office of the comptroller of the currency and the Los Angeles City attorney imposed a collective 185 million fine. From 2006 to 2016 the bank charged Service Members illegal fees, failed to disclose their active duty status in eviction proceedings and unlawfully repossessed their vehicles, resulting in a 20 million fine and 10 million returned to Service Members. From 2005 to 2016 the bank charged customers for automobile insurance policies