Wells Fargo CEO to testify before House lawmakers in March
WASHINGTON — On the same day news broke of Wells Fargo's $3 billion settlement with the Department of Justice, House Financial Services Committee Chairwoman Maxine Waters announced three more hearings scrutinizing the bank's leadership and culture.
The first hearing, scheduled for March 10, will address "CEO perspectives." Recently hired Wells CEO Charlie Scharf is expected to testify. On March 11, the committee will turn its attention to the bank's board, examining the role board members had in Wells' various scandals.
Later in the month, on March 25, the subcommittee on oversight and investigations will meet to discuss “the impact of the bank’s toxic culture on its employees.”
The committee also announced March hearings on digital currencies, money laundering and redlining.
On March 24, the full committee will meet to examine the record of Secretary of Housing and Urban Development Ben Carson on affordable housing.