The Senate Banking Committee conducted a hearing Tuesday about the massive scandal currently engulfing Wells Fargo.
The bank is also facing an investigation by the House Financial Services Committee, subpoenas from the Department of Justice, and at least one potential class-action lawsuit.
Stumpf initially began by describing the firing of regional branch managers, but Warren stopped him, emphasizing that her question was not about low-level leadership but about the people at the top.
"You're right, it is all in the public records," Warren said, "because I looked it up." She continued: "While this scam was going on, you personally held an average of 6.75 million shares of Wells stock." The share price went up by about $30 in that time frame, Warren pointed out, "which comes out to more than $200 million in gains, all for you personally." You know, here's what really gets me about this, Mr.
You should give back the money that you took while this scam was going on, and you should be criminally investigated.