Wells Fargo CEO pummeled on Capitol Hill over multiyear scam

September 20, 2016 10:45 PM

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Wells Fargo CEO pummeled on Capitol Hill over multiyear scam

Wells Fargo’s longtime chief executive endured more than two hours of stiff questioning during a Senate hearing Tuesday, as his attempt to apologize for a scandal involving millions of sham accounts reignited anger over whether the big banks are being held accountable for their misdeeds.

In the crowded hearing room, John G. Stumpf acknowledged that he and other senior executives should have realized the extent of the problem earlier and taken firmer action. But he was repeatedly chastised by lawmakers who took him to task for the bank’s unwillingness to punish senior executives for ...

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