Menendez Demands Answers from Wells Fargo CEO
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- Опубліковано 19 вер 2016
- Senator Bob Menendez questions Wells Fargo President, Chairman and CEO John Stumpf on the company's far-reaching scheme to cheat customers, which led to the highest fine ever by the Consumer Financial Protection Bureau.
Senator, thank you so much for communicating the frustration that the U.S. is feeling about problems like this. Please keep up the great job you are doing for making CEOs accountable for their behaviors. This guy needs to resign and be criminally charged for this fraud which negatively affected thousands of people.
I have never been a big fan of Bob Menendez, but I have to say, this past year or so, I am liking him more and more.. He was great in this exchange. He put into words, exactly my thoughts.
Here in NJ everyone is worried about Bridgegate/ moving cones, etc, while they should be going after these type of bankers. Everyone one of them belongs in jail, all 5,300 workers, all of their managers that knew what was going on, and this Stumph. I am really disgusted with WellsFargo. I would never trust them with my money now and you shouldn't either.. close your accounts now!
Honestly your done as a senator! Can you leak all the dirt you have on everyone!
Rich people, the CEO make a million dollars salary- so wrong off the back of the poor. There will be a reckoning. Thank you Menendez, get him
But wells Fargo CEO still continues to get even richer as these hearings continue!
At he end he was answering by talking about regional managers, not executives.
I suspect he has NO shame whatsoever. But poor little fella has an owie. Must be rough to be both evil and injured.
They know exactly what they were doing. They knew what they were doing in 2008.
For $200m I would take that public abuse. Coz id still be getting away with it anyway.
Ugh, he flip flops and skips over questions...but that $19.3M income answer proudly popped out his lying lips.
JaneDoe1026 that's a pretty good number.. because he wants to tax it and get money he doesn't deserve.
I have seen a lot of videos like this featuring representatives roasting all kinds of top executives yet literally all of those executives got away with what they did. Looks like your effort goes futile
Thank you BOB!
I have two good sentors, but I wouldn't mind having Menendez as my senator!
“their financial journey” hahaha
senator talking about corruption your right up their with wells Fargo.
you can't prove he knowingly instructed the managment to open new accounts.
Yes at work you have no bosses you can do whatever you feel like.
Those Senators mad as hell, because John Stumpf made way more than them...Go Senators
One dislike by John Stumpf. thanks john
19.3 million a year. 19,000,000.00. Wow. And the employees make 30 to 60k a year. And they fired the 5300 employees only doing what they are told to do. The only ones who lose in this law suit are the regular people who are trying to provide for their families. It's either you sell this products or get fired. I would sue the shit out of Wells Fargo if they fired me for doing what they told me to do.
Good Job Menendez!
They have destroyed my husband life.. Over the Fraud he ended up with a Heart attack
Instead of a war on petty drug crime, there should be a war on crooks like this who exploit other people for their own gain.
his quotes are amazing
This guy hit the nail on the head!
What an amazing Senator, Bob Menendez.
I hated working for Wells
and that was in one yr. just one yr.
wellsfargo is a historical bank and this incident is very unfortunate...
"Very unfortunate"? How about rapacious and criminal?
this guy needs to be brought down to the salary of 21000.
He needs to be fired and put in jail
20 mill a year and thats just the salary , these big cats at wells also receive bonuses the latest one was 120 million he received,,
I told them about the bank had to copy the chip off of my other card ,cause I was use the Atm to pull money off my debit card by falcon staffing, the lady told me she never mailed it in time. Plus wells couldn't even tell me who authorities the deposit. But they still went off the chip. I still have all the documents to prof it. Pus there on my Google mail account ,an my other facebook account.
I was scammed and cheated by Wells Fargo in a completely different way,
the common problem is that they politely make excuses, deny responsibility, and will not get any resolution from or with the bank company even if you file complaints or attempt to use the mediation process, because their people or people who are paid by Wells Fargo make the decisions and excuses. And so you have to waste time and more money with lawyers and the legal system or connect with political authority 🤔
(please connect me with the people who can help)
Which makes me wonder if some of the people going crazy are dealing with similar people and problems 🤔 😕 🙄
My wife had to retired because of the many quotas demanded by Well Fargo. It is shameful to have executives make so much money at the expense of the workers who work for a minimum wage and under extreme pressure. As it happens many, many times, they will get away with this and find other ways to continue to put pressure upon their employers while the supervisors lavish on their earnings.
Welcome to the banking industry the new evil empire that we have allowed!
I made 30,000 at my first job after college 30 years ago.
No wonder why my account never go up always is the same all the time .
The next thing that should be investigated is the secured credit cards that are applied for during tax season. People with poor credit are lured into "rebuilding" their credit by putting 300.00 toward a secured credit card. Problem is these folks only have the extra income because of tax returns and before you know it the credit card to help build their credit is maxed out and new debt is created and many get charged off because of non-payments and the customers credit is now worse than from the beginning.
Should this line of philosophy also apply to the obama's government! Hold menendez to his words!
I just want my money then people stole from me in the st. Louis county juvenile, Missouri courts
I have a feeling the CEO has a bad chance of surviving...
Interesting
They hide behind that financial annallisist piece...the point is sell sell sell. There was a call every morning snd at 2pm and after closing to discuss sells. There was times set to make calls to customers to set appointments to help meet sells goals. And still today it's sell sell sell its just reworded but believe me we all know what WF expects.
Good job trying to hold stumpf accountable. Now tell us again about those trips to the Dominican republic
New Jersey- do NOT vote for this crook, liar and pervert. Vote for the other Bob!!!!!!
NOthing becomes of these hearings for the people that matter. Nothing!! It's really awful but it seems to be the way of the world. The rich get richer ...
ok.... FUCK getting answers somebody needs to get a conviction. until then this is all that service.
There is hidden accounts they held my deed notes to my property in another mans nane and held the fraud in my husbands TRW that he never signed against my rights as a wife
the crook Melendez is criticising another crook?they should both be in jail
Good luck that's what CEOs do lie and cover up!
W. New York - n.j.
Muahahahahahahahahahahahahaaha! THIS IS RICH! You're heading to PRISION Bob!
I think that the CEO should be in prison.
did you hear if you don't meet your goals on sales... proper sales you going to be held accountable at the end... lol not sure he gets it it's that kind of toxic environment that created this problem in the first place.
please for the love of God people. after this election we must focus on electing an independent. this only furthers my statement that we will never make progress in this country unless we get big business out of politics. presidential candidates must do the bidding of their donors. it is no question that we cannot let Donald Trump win but I work will be far from over. for the next four years we must talk with all of our loved ones and Friends and make this very clear
Disgusting...
Do any see some similarity to Trump around nose and mostly eyes or just me?
Wonderful drama and theater!At the time of the 2008 bailout over 90% of local banks were solvent. Why? Because they had a relationship to their customer base and knew them!What made the 2008 bailout possible? The 1999 failure of William Jefferson Clinton to veto the repeal of Glass-Steagall. Glass and Steagall were the younger sons of their families who saw that banks had no backbone and dream of a return of the monarchy. They still don't have a backbone and what Ayn Rand calls "accomplishment without plunder". Look at Bank of American that said to Paulson that "We don't need the money we're solvent," but were "forced" to take it to buy out Merrill Lynch (Pierce Fenner and Smith) with the Pierce being the family of Barbara Pierce Bush. Please!1999 opened the door to the Bush, Jr. bamzoozlers and they were all splitting the sheets like the commercial and investment bankers. Now we are mired in our Presidential politics in what is essentially two New Yorkers replicating Tammany Hall.Wells Fargo is just the beginning and the revolution IS coming. Go listen to Morgan Reynolds who resigned as Bush' s Chief Economist.
I did I went through 4 to 5 different accounts, plus my loans an car the I was paying for but I believe my so called mother was behind on it ,an didn't tell, but the car gave my a copy of a note to have her sign so I can take over payments an she didn't sign cause she was tried, an didn't want too I guess.because she was asking for more cash for insurance. So I did, plus my other enez didn't have his part I had mine everytime. So I got a loan, two of them. Security Finance, speedy cash.
Stumpf used his time at the banking committee to obfuscate what happened in Wells Fargo, and while he was repeating that he is responsible for the fraud, he was not penalized by the Board or he did not resigned on his own. Shame for you Stumpf! You are highly paid fraudster. Time to fire you and time for you to return your bonuses. Shame on you!
1:03
the whole problem is that banks are not owned by the state...they are private
I’m disappointed in your corruption