Name: Wells Fargo Scandal: Everything You Might Have Missed
Uploaded: 2016-10-13
Duration: 1 min 43 s
Description: Watch the headlines since the news broke.

And one of the country's biggest banks, Wells Fargo, busted for creating millions of phony bank accounts. Federal regulators said Wells Fargo employees secretly opened over 1. 5 million unauthorized deposit accounts. Covered their tracks up by creating fake email addresses, phony PIN numbers This is just straight up fraud. People can understand this. It really has provoked outrage. Wells Fargo has been slapped with a $ 150 million dollar fine and has fired thousands of employees. The scandal has wiped out about 20 billion dollars from the firm's market value. It is outrageous That eight years after a cowboy culture, we are still seeing powerful bankers playing fast and loose with the law .>> The executive who oversaw the unit, Carrie Tolstedt, she was set to leave the bank with $ 125 million in stock and options. I am deeply sorry. That we failed to fulfill on our responsibility to our customers, to our team members and to the American public. Wells Fargo stage coach to ruin continues to race downhill. But you squeezed your employees to the breaking point. You should resign and you should be criminally investigated. Are you surprised that he still has his job? And now it's can John Stumpf keep his job at this point. The best thing I can do right now is lead this company. John Stumpf will resign in the wake of recent scandal. The company has named President Tim Sloan to replace him. I think that there's still gonna be a lot of questions By both, lawmakers, as well as the public and investors.

Watch the headlines since the news broke.