HALISTER: Democrats Urge Top-Level Scrutiny in DOJ Wells Fargo Probe

Democrats Urge Top-Level Scrutiny in DOJ Wells Fargo Probe

(Bloomberg) -- Democratic senators are urging the Justice Dept to “thoroughly investigate the culpability of senior executives at the bank” as part of its probe into whether Wells Fargo violated federal laws when its employees opened as many as 2m fake customer accounts.
  • “An executive who oversees a massive fraud that implicates thousands of bank employees and costs customers millions of dollars can walk away with a hefty retirement package and millions in the bank,” while a “teller that takes a handful of bills from the cash drawer is likely to face charges for theft and prison time,” writes group, led by Mazie Hirono, D-Hawaii.
  • Letter to U.S. Atty Gen. Loretta Lynch also signed by Sens. Tammy Baldwin, D-Wisc., Richard Blumenthal, D-Conn., Richard Durbin, D-Ill.,Al Franken,D-Minn.,, Kirsten Gillibrand, D- N.Y., Angus King, I-Maine, Amy Klobuchar, D- Minn., Patrick Leahy, D-Vt., Ed Markey, D-Mass, Jeff Merkley, D-Ore., Bernie Sanders, I-Vt., Elizabeth Warren, D- Mass., and Ron Wyden, D-Ore.
  • EARLIER: Democratic Senators Said to Ask SEC to Probe Wells Fargo: WSJ
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
WFC US (Wells Fargo & Co)

People
Alan Franken (United States Senate)
Amy Klobuchar (United States Senate)
Angus King (United States Senate)
Bernard Sanders (United States Senate)
Edward Markey (United States Senate)

Topics
BGOV Finance

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