Democratic Massachusetts Sen. Elizabeth Warren fought with the Chief of Currency Officer Joseph Otting at Capitol Hill on Wednesday, saying the agency "blew" it to evaluate wells Fargo CEO candidates in the past – as a search for a replacement
"No one is … stronger than Wells Fargo than myself," says Compingroller Otting during a testimony to lawmakers belonging to the Senate Committee on Banking, Housing and Urban Affairs.
Warren replied ̵
Clashes – during a financial regulatory hearing hearing – agree to publicly disclose the OCC review to the next CEO of Wells Fargo, especially where it refers to his ability, character , experience and integrity.
The Congress gave the OCC authority to examine the characteristics of candidates for leadership positions in a "troubled bank," which means it can destroy candidates. Otting said the OCC will conduct the review.
Although Otting had a legal option to do so, he said at this time that he did not plan to release information on that examination.
Warren made the career of Wells Fargo's whip, leading to a charge to remove Sloan. Sloan came out of his post in March, claiming that he had "too much focus" and he "became a chaos."
When Sloan announced, Warren said it was "about the damn time," on the Twitter post. He also asked the Department of Justice to investigate the long-term employee of Wells Fargo.
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2020 presidential candidate told the OCC "By letting former Wells Fargo CEO Tim Sloan lead the company, because he is "complicit" in a scandal in the bank where millions of fake accounts are opened without the knowledge of consumers.
OCC with Consumer Financial The Bureau of Protection (CFPB) restricts Wells Fargo $ 1 billion in the way it carries its insurance related to its vehicle loans and mortgage abuses. The bank also funded $ 185 million in 2016 for secretly setting up accounts on behalf of customers.