Wells Fargo
"Iâll fight hard to make sure that Wall Street is working for Main Street â not the other way around."
5,300 employees were fired after it was revealed that the bank opened millions of accounts without customers' knowledge.
The senator had some rather pointed questions for the executive in the wake of his bank's scandal.
WHAT'S HAPPENING
The CFPB has earned praise from a variety of experts.
The bank was scamming customers for years, until the CFPB put an end to it.
Wells Fargo will pay $185 million in penalties and $5 million to customers that regulators say were pushed into fee-generating accounts that they never requested.
None of the eight systemically important banks, which the U.S. government considers "too big to fail," fared well in the evaluations.
The bank admitted to deceiving the government with "years of reckless underwriting."
"Escalator got a little excited about the flyers win too..."