Political Quotes

“Mr. President, every morning paper and most of the newscasts this morning focused in on a hearing of the Senate Banking Committee yesterday. It was a hearing where the President of the Wells Fargo bank was called on to testify. At issue was a recent disclosure that over a period of many years, Wells Fargo bank was enrolling its customers, without their knowledge, in the ownership of bank accounts and credit cards. Many times they faced penalties and charges which they did not understand because they had not asked to be enrolled in these programs. The employees at Wells Fargo bank did it in an effort to win favor within their corporate ranks and even to receive bonuses. This defrauding of thousands of Wells Fargo customers was finally unearthed by the media and by the Consumer Financial Protection Bureau. As a result, a substantial fine of millions of dollars was paid by Wells Fargo bank, and the President, Mr. Stumpf, was called before the committee yesterday to explain the situation. He faulted the over 5,000 employees of Wells Fargo bank, who he said were not honest in their dealings with their customers, and they were dismissed. There were questions asked of Mr. Stumpf about the responsibility of the management of Wells Fargo bank for this terrible miscarriage of justice and apparently very few, if any, managers were held accountable. One particular woman who was in a management capacity had been allowed to leave the bank under extremely positive circumstances.…”