The Wall Street Journal: Wells Fargo chief expected to testify before House panel in mid-March [MarketWatch]
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Source: MarketWatch
Wells Fargo chief expected to testify before House panel in mid-March Wells Fargo & Co. is expected to be the first bank to face a grilling by House Democrats who took over the Financial Services Committee in the new Congress, with a March hearing focused on its scandals, people familiar with the matter said. Wells Fargo’s WFC, +1.64% chief executive, Timothy Sloan, is expected to appear solo before the House Financial Services Committee on March 12, the people said, as the committee scrutinizes the bank’s failures to address widespread consumer abuses. Sloan is also set to testify a second time with the heads of seven other large, U.S. banks on April 10, including the chiefs of JPMorgan Chase & Co. JPM, +2.93% , Citigroup Inc. C, +3.04% , Bank of America Corp. BAC, +2.91% , Goldman Sachs Group Inc. GS, +3.22% and Morgan Stanley MS, +3.13% . The hearings are the latest sign that Democrats plan to pursue financial institutions that have remained a lightning rod for the
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