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CSPAN2 Wells Fargo CEO Testifies Before House Financial Services July 13, 2024

[inaudible conversations] this committee will come to order. Without objection the chairs authorized to declare a recess at any time to be entitled Holding Wells Fargo Accountable the bank that broke americas trust i recognize myself for four minutes to give an Opening Statement. Today wells fargo ceo will testify before the committee about how he plans to and wells fargo egregious pattern of consumer abuses. We invited him to testify before this committee the last three and half years. We will note each time a ceo has testified before this committee he has resigned they are soon after. [laughter] you are taking on a massive challenge i certainly wish you luck it is clear to this committee that the bank you inherited is a lawless organization has caused widespread harm to millions of consumers throughout theor nation. Ells fargo has opened three. 5 million ....

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SFGTV BOS Govt Audits And Oversight Committee July 13, 2024

2020 agenda unless otherwise stated. Mr. Clerk, call item number 1. Clerk a motion directing the clerk of the board to initiate a request for proposals process for special Investigation Services. Thank you. Supervisor haney, as a sponsor of this measure, the floor is yours. Thank you, chair marr, and good morning, everyone. I think that this is, you know, obviously a very challenging time for our city right now with multiple departments who have been implicated in a larger investigation. Clearly, you know, charges that have been levied by the u. S. Attorney against individuals in government and outside. And it is critical that we do everything that we can to investigate fully, prevent any future fraud or corruption, and to do everything that we can to restore the public trust. This is not a time for business as usual and i think that the public is looking to us as the board of supervisors to investigate fully to make some ....

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SFGTV BOS Govt Audits And Oversight Committee July 13, 2024

And it appears on the march 10, 2020 agenda unless otherwise stated. Mr. Clerk, call item number 1. Clerk a motion directing the clerk of the board to initiate a request for proposals process for special Investigation Services. Thank you. Supervisor haney, as a sponsor of this measure, the floor is yours. Thank you, chair marr, and good morning, everyone. I think that this is, you know, obviously a very challenging time for our city right now with multiple departments who have been implicated in a larger investigation. Clearly, you know, charges that have been levied by the u. S. Attorney against individuals in government and outside. And it is critical that we do everything that we can to investigate fully, prevent any future fraud or corruption, and to do everything that we can to restore the public trust. This is not a time for business as usual and i think that the public is looking to us as the board of supervisors to ....

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CSPAN2 Wells Fargo CEO Testifies Before House Financial Services July 13, 2024

Come to order. Without objection, the chair is authorized to declare recess of the committee at any time. This hearing is entitled Holding Wells Fargo Accountable and ceo perspectives for the bank that broke americas trust. I now recognize myself for five minutes with an Opening Statement. Today, wells far go ceo, charles scharf, will testify before the committee about how he plans to end wells fargo egregious battle of abuse. Hes the third wells fargo ceo to testify before this committee and less than three and a half years. I will note that each time wells fargo ceo testified before this committee, he has resigned soon thereafter. Mr. Charles scharf, you have taken on a massive challenge and while i certainly wish you luck, it is clear to this committee that the bank you inherited is essentially a flawless organization that has caused widespread harm to ....

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CSPAN Wells Fargo CEO Testifies Before House Financial Services July 13, 2024

Mr. Mchenry you have access of liquidity to get through any crisis you would foresee . Yes, absolutely. Mr. Mchenry in terms of safety and soundness, you are from the harm previous regime, thats positive. In terms of safety and soundness youre management, cleaning up the ship. So our expectations is we should have no problems from you in soundness, ety and is that fair . Mr. Scharf i think its fair work once we finish the we laid out, you should feel that. Mr. Mchenry ok. At employees do you have wells fargo . R. Schaefer i have mr. Scharf 260,000. Mr. Mchenry how many are customer facing . R. Scharf i dont know the answer. It has to be easily 100,000. Mr. Mchenry sure. Do you have plans in order to respond to the current threats covid19, especially in your footprint in california . Absolutely. We are, as i said mr. Mchenry as well as and other state primaries that are seeing an outbreak . Approach on ur covid 19 is we should do the ing we can to ensure safety of our employees as well ....

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