The CEO of Wells Fargo, Timothy Sloan, appeared before the Senate Banking Committee this morning to answer questions about the bank’s culture of ethical shortcomings.
Sloan has been on the job for a year, since the board of directors at the bank fired John Stumpf, the Pierz, Minn., native.
Not unexpectedly, Sloan got a grilling from Sen. Elizabeth Warren.
— CNBC Now (@CNBCnow) October 3, 2017
It was a year ago — almost to the day — when it was Stumpf’s turn to face Warren.
Warren, obviously, isn’t any more satisfied now than she was a year ago, a fact which highlights the reality of the power of big banks when faced with the theater of congressional oversight. The bankers call the shots.
Related: How the Wells Fargo scandal led to the bank opposing reversal of DACA (Dallas Morning News)