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Noise the committee will 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 ...

The committee will come to order. Without objection, the chair is authorized to declare recess at any time. This hearing is entitled holding wells fargo accountable. For the banktive that broke americas trust. I recognize myself to give an Opening Statement. s ceo wills fargo testify about how he plans to end the egregious pattern of consumer abuses. He is now the third wells fargo ceo to testify before this committee in less than three and a half years. I will note each time a wells fargo ceo has testified before this committee, he has resigned as soon thereafter. You have taken on a massive ...

And managing it in a very difeated differently because the person is going to get more points for the higher value. He should not be treated differently. Thank you. And im sure i yield back. The gentlewoman from california is recognized for five minutes. Mr. Scharf have you seen the movie herald and kumar go to white castle . There is a famous scene in that movie where kneel Patrick Harris borrows the car and completely trashes it. Wells fargo lets monies to customers get a car and they want them to protect that car. The collateral, the value. Theres always the kneel Patrick Harris risk. Crash...

[inaudible conversations] [inaudible conversations] [inaudible conversations] the committee will come to order. The gentleman from illinois mr. Foster is recognized for five minutes. Thank you, madam chairman. Mr. Scharf, iraq with the concerns my colleagues on this committee about the extensive shortcomings of west fargo over a number of years past and do hope you are as committed and as successful in turning your dash as you stated in your testimony. Id like to bring up the issue of dreamers. This is ang issue that hits cle to home. Last summer a dreamer from illinois filed suit because he w...

Akwy sessiak ak akwywy situation of etrade. Will has the highlights. Hey, carl as you said, just last hour we were talking with james gorman, the ceo, and said he first got attracted to etrade back in 2002 when he was still at merrill. He said the conversations this time got real in december. Heres what he had to say about that 13 billion price tag i never worry about strategy. Im never trying to copy what somebody else is doing we have to do whats right for Morgan Stanley you have to be opportunistic, move and move quickly. We put in a very full, i think appropriately, a bid for a Great Compa...