February 14, 2018

CNBC: Wells Fargo faces grilling from Sen. Elizabeth Warren on bungled fee refunds

Wells Fargo again finds itself on the hotseat for mistakes it made trying to repay customers hit by improper loan fees.

Sen. Elizabeth Warren , the Massachusetts Democrat who has been highly critical of the bank and its management over numerous issues with customers, fired off a letter to Wells CEO Tim Sloan this week grilling him about botched refunds.

Warren accused Sloan of breaking his promise to customers since he took over as CEO in late 2016 after a fake accounts scandal burst into the headlines. That scandal involved the bank's employees opening accounts without customers' knowledge in a bid to meet aggressive sales goals, an issue affecting millions.

Read the full article on the Yahoo Finance website here.

By:  Liz Moyer
Source: CNBC