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Foreign news: US Senator calls for Wells Fargo execs to be removed

14 July 2017 4:54PM
US Senator Elizabeth Warren has harangued Fed Chair Janet Yellen to remove all of those Wells Fargo banks directors who were on board during its fake accounts scandal, noting that the Fed already fined Wells Fargo in 2011 for illegally pushing mortgage borrowers into more expensive loans, CNBC reports.  "Fines are not working with these giant financial institutions," the senator said. "If bank directors who preside over the firing of thousands of employees for creation of millions of fake accounts can keep their jobs, then I think every bank director in this country knows that they are bulletproof and that poses a danger to the rest of us every single day."

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