News

Committee for Better Banks

Contact: Tian Weinberg, [email protected], 646-701-4356 

Zoe PiSierra, [email protected], 646-339-0042

Committee for Better Banks: $3 Billion Wells Fargo Settlement Does Not Change Corrupt Culture at Heart of Scandal

Calls on CEO to meet with front-line bank workers who exposed the scandal 

Committee for Better Banks

For Immediate Release: February 21, 2020

Media Contact: Zoe PiSierra, [email protected]erlinrosen.com, 603-339-0042

CNBC Grow - Ben Jay - 1/30/20

Between ATM fees, overdraft charges, monthly maintenance, and other charges, the typical checking account holder pays $7.69 every month, according to a recent survey from Bankrate.

Compliance Week - Lori Tripoli - 1/24/20

The Office of the Comptroller of the Currency (OCC) banned former Wells Fargo Bank CEO John Stumpf from participating in the banking industry Thursday.

In settling with the OCC, Stumpf also agreed to pay a $17.5 million civil penalty to resolve longstanding problems during his tenure at the bank. Stumpf reached his deal with the OCC without admitting any wrongdoing.

Bloomberg - Anders Melin - 1/23/20

John Stumpf left Wells Fargo & Co. with his image in tatters, lost more than $70 million through forfeitures and a clawback, and now faces a government fine and a lifetime ban from the financial industry.

But that won’t upend his nest egg.

CBS News - 1/23/20

Federal regulators are fining former Wells Fargo CEO John Stumpf $17.5 million and banning him from the banking industry for life for his role in a scandal in which company employees opened millions of fake accounts without customers' consent. 

For Immediate Release: January 23, 2020

Media Contact: [email protected], 603-339-0042

NATIONWIDE — In response to fines and work restrictions brought against former Wells Fargo executives by the federal Office of the Comptroller of the Currency, Committee for Better Banks member Patrick Creaven, a five-year Wells Fargo Communications Associate from Concord, Calif., said: