Wells Fargo CEO to tell Senate: 'I accept full responsibility' for sales misdeeds

DENVER BUSINESS JOURNAL - Wells Fargo Chairman and CEO John Stumpf will tell the Senate Banking Committee Tuesday that he takes "full responsibility" for the unethical sales of accounts and credit cards without customers' knowledge or consent, according to his prepared remarks posted online by several news sites Monday.

Wells Fargo is Colorado's largest bank.

"I am deeply sorry that we failed to fulfill our responsibility to our customers, to our team members and to the American public," Stumpf said in his prepared remarks.

"I accept full responsibility for all unethical sales practices in our retail banking business," according to Stumpf's prepared remarks. "I am fully committed to doing everything possible to fix this issue, strengthen our culture and take the necessary actions to restore our customers' trust."

Read more at the Denver Business Journal: http://bit.ly/2crBgOL

Copyright 2016 Denver Business Journal


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