April 04, 2018

LA Times: Sen. Elizabeth Warren pushes Federal Reserve to hold formal vote on Wells Fargo reform plan

Sen. Elizabeth Warren (D-Mass.) is requesting that the Federal Reserve Board of Governors hold a formal vote on whether to accept a plan from Wells Fargo & Co. to address consumer abuses.

In a letter to Fed Chairman Jerome H. Powell released Wednesday, Warren said it was important for Senate-confirmed central bank governors to vote on enforcement decisions so Congress and the public can hold them accountable.


"The Fed's consent order sent a powerful message to Wells Fargo and other big banks that there could be real consequences … if they break the law," Warren wrote. "The public deserves to see that the [Fed] board is strictly enforcing its order."

Read the full article on the LA Times website here. 

By:  Jim Puzzanghera
Source: LA Times