Sen. Elizabeth Warren
Sen. Richard Shelby
"I'm not an expert in compensation," Stumpf said.
"Are you the chairman? Are you the CEO of the company, right?"
When Stumpf confirmed that he was both, Shelby continued.
"The buck stops here, so to speak," Shelby said. "So are you going to look into this seriously about what this person did, her responsibility, and the big reward that she's getting that happened under her watch?"
Sen. Robert Menendez
"This isn't the work of 5,300 bad apples," Menendez told Stumpf. "This is the work and the result of sowing seeds that rotted the entire orchard. You and your senior executives created an environment in which this culture of deception and deceit thrive."
Sen. Patrick Toomey
Stumpf at first claimed he didn't know if it had been disclosed, but Toomey said he'd checked.
"We haven't been able to discover such a disclosure, and the SEC very clearly requires disclosure of material adverse circumstances," Toomey said. "And I don't know how this could not be deemed material. I think the market cap lost 9% over the last couple of weeks that's pretty material."
Sen. Jon Tester
When Stumpf tried to emphasize that only 1% of Wells' workforce had been responsible for the misconduct, Tester said that raised a different problem.
"Every time you say that, you give ammunition to the folks who want to break up the big banks," Tester said. "5,300 people are more people than live in most towns in Montana. Two million people is twice the population of the entire state. This is a major screw-up that went on for far, far, far, far too long. And I think you know that."
Sen. David Vitter
"Is it normal for 1% of a business unit to be fired over fraud not high turnover, not incompetence, [but] fraud and this never is mentioned to you?" Vitter asked.
When Stumpf said it was relatively normal, Vitter argued that it proved the case some institutions were too big to manage.
"Why isn't this crystal-clear proof that an entity as big as Wells is not only 'too big to fail' but it's too big to manage and it's too big to regulate?" he asked. "One percent of a big part of your business is fired over fraud but that doesn't rise to your level?"
Sen. Heidi Heitkamp
In 2011, "there's something going on and Wells Fargo is addressing it," she said. "At 13, there's something going on and addressing it. At 15, there's something going on and Wells Fargo is addressing it.
"But yet, it didn't get done and now, you're coming to us and saying, trust us, we now get it," she said. "I'm one of your customers. My whole family is. You aren't doing what you need to do to restore customer confidence, but you're also not doing what you need to do to restore confidence with this committee and with the American public."
Sen. Jeff Merkley
"Let's talk about Yesenia Guitron who in 2008, after being hired for two months, found that this was happening these false accounts were happening," Merkley said. "She went to her trainer, then she went to her manager, and she was pushed very hard to shut up in all kinds of different ways."
She filed a whistleblower suit but was later fired anyway because Wells claimed she didn't meet her sales goals, according to Merkley.
When Stumpf said he accepted full responsibility, Merkley let him have it.
"Full responsibility for establishing a culture that put people in impossible situations would be to resign," Merkley said. "It would be to return your funds and help fund assistance for all these people who were fired because of the culture you established and that you personally benefit an enormous amount from."