• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

New York City women are making up to $30,000 per month by renting out their closets to strangers

2

Why did a $154 billion CEO just endorse stripping most Americans of voting rights—and taking us back to the 19th century?

3

The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'

1

New York City women are making up to $30,000 per month by renting out their closets to strangers

2

Why did a $154 billion CEO just endorse stripping most Americans of voting rights—and taking us back to the 19th century?

3

The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'
MPWMost Powerful Women

Elizabeth Warren Demands That a Second Wells Fargo CEO Be Fired

Claire Zillman
By
Claire Zillman
Claire Zillman
Editor, Leadership
Down Arrow Button Icon
Claire Zillman
By
Claire Zillman
Claire Zillman
Editor, Leadership
Down Arrow Button Icon
October 3, 2017, 12:28 PM ET
Add Fortune on Google for similar content.

Last year, Sen. Elizabeth Warren (D-Mass.) demanded that Wells Fargo CEO John G. Stumpf be fired in the wake of the bank’s fake account scandal. She blasted him for making millions off a “scam,” saying, “You should resign … and you should be criminally investigated.”

Turns out, the firebrand senator isn’t pleased with Stumpf’s successor either.

At a Senate banking committee hearing on Capitol Hill on Tuesday, Warren argued that current Wells Fargo CEO Timothy J. Sloan should be fired too since he was part of the culture that encouraged employees to create millions of phony accounts for customers without their knowledge or consent.

“At best you were incompetent, at worst you were complicit,” Warren told Sloan on Tuesday. “Either way, you should be fired.”

Click here to subscribe to the Broadsheet, Fortune’s daily newsletter on the world’s most powerful women.

Warren got what she wanted from Stumpf, who’d blamed the bank’s fake account scandal on some 5,300 employees. He retired in October 2016 shortly after Warren called for him to lose his job. Sloan, a Wells Fargo veteran, took Stumpf’s place.

During the hearing on Tuesday, senators demanded that Sloan explain how the scandal had gotten so out of hand. He defended his role in the matter and touted the ongoing efforts to rehab the bank’s reputation and prevent another such incident.

“I’m not afraid to make hard decisions when it’s needed and I have the support of 270,000 people,” he said, referencing the bank’s workers. “That’s why I think I’m the right person.”

Warren was insistent that Sloan forfeit his role. “Wells Fargo needs to start over,” she said, “and that won’t happen until the bank rids itself of people like you who led it into this crisis.”

About the Author
Claire Zillman
By Claire ZillmanEditor, Leadership
LinkedIn iconTwitter icon

Claire Zillman is a senior editor at Fortune, overseeing leadership stories. 

See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in MPW

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in MPW

katty
CommentaryLeadership
Katty Kay: confidence is the skill that turns thoughts into action—and companies need to start teaching it
By Katty KayJuly 26, 2026
2 days ago
A supporter holds a sign for Democratic candidate for Texas governor Gina Hinojosa while she speaks during a rally.
PoliticsData centers
‘There are no rules. It is the wild west of data centers’: Texas Democratic candidates pounce on AI data center projects in Republican strongholds
By The Associated Press and Marc LevyJuly 24, 2026
3 days ago
Inside Flavor Flav’s unlikely effort to help female Olympians build their brands and careers
NewslettersMPW Daily
Inside Flavor Flav’s unlikely effort to help female Olympians build their brands and careers
By Ellie AustinJuly 22, 2026
5 days ago
Anthea Hartig, Director of the National Museum of American History, looks to her left at a House Committee.
PoliticsWhite House
Smithsonian director denies ‘woke’ label from Trump while defending exhibit on teen’s gender-identity diary
By Steven Sloan and The Associated PressJuly 21, 2026
6 days ago
Cleveland’s WNBA team doesn’t play until 2028 but Progressive just scored jersey sponsorship
SuccessSports
Cleveland’s WNBA team doesn’t play until 2028 but Progressive just scored jersey sponsorship
By Joe Reedy and The Associated PressJuly 21, 2026
6 days ago
jd
PoliticsWhite House
JD Vance becomes first sitting vice president to welcome a child in office in over 150 years
By Darlene Superville and The Associated PressJuly 20, 2026
8 days ago

Most Popular

New York City women are making up to $30,000 per month by renting out their closets to strangers
Retail
New York City women are making up to $30,000 per month by renting out their closets to strangers
By Sarah GlodekJuly 27, 2026
22 hours ago
Why did a $154 billion CEO just endorse stripping most Americans of voting rights—and taking us back to the 19th century?
C-Suite
Why did a $154 billion CEO just endorse stripping most Americans of voting rights—and taking us back to the 19th century?
By Nick LichtenbergJuly 27, 2026
13 hours ago
The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'
Real Estate
The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'
By Nick LichtenbergJuly 25, 2026
3 days ago
An 11-year-old is cleaning his neighbors' trash cans for $10 each—he now has 100K followers as teens face the worst summer job market since 1948
Success
An 11-year-old is cleaning his neighbors' trash cans for $10 each—he now has 100K followers as teens face the worst summer job market since 1948
By Orianna Rosa RoyleJuly 25, 2026
3 days ago
College-educated women are snapping up the highest-earning men without college degrees, leaving the rest further behind
Economy
College-educated women are snapping up the highest-earning men without college degrees, leaving the rest further behind
By Mia OsmonbekovJuly 26, 2026
2 days ago
I've been teaching college students for decades. Most of them can no longer finish a book
Commentary
I've been teaching college students for decades. Most of them can no longer finish a book
By Austin SaratJuly 26, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.