Sen. Elizabeth Warren calls for removal of 12 Wells Fargo board members - CNBC

"Sen. Elizabeth Warren is calling on Fed Chair Janet Yellen to remove the 12 board board members at Wells who presided during the bank's fake accounts scandal," said CNBC in a recent report.

Key quotes (via CNBC):

  • In a letter to Federal Reserve Chair Janet Yellen, the Massachusetts Democrat said the scandal has "revealed severe problems with the bank's risk management practices."
  • In an agreement with multiple authorities last September, Wells agreed to pay a $185 million fine in conjunction with a scandal in which some 2 million client accounts were created without the customers' knowledge.

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