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Home / Business / Warren beats OCC's search oversight over Wells Fargo CEO

Warren beats OCC's search oversight over Wells Fargo CEO



The Democratic Massachusetts Senator, Elizabeth Warren, collided on Wednesday at Capitol Hill with the office of head of the monetary authority, Joseph Otting, is in progress.

"No one was harder on Wells Fargo than I was," Comptroller Otting said during a statement to the legislators of the Senate Committee on Banking, Housing and Urban Affairs.

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Warren replied that the OCC was a "low bar," which Otting called "offensive."

The conflict came about during a hearing on the supervision of the financial regulators, whether Otting would do so, agreeing to publicly announce the OCC's evaluation of the next Wells Fargo CEO, particularly with respect to its competence, his character, his experience and his integrity.

The Congress gave the OCC the power to examine the characteristics of candidates for leadership positions in a "troubled bank," meaning that they can beat candidates. Otting said the OCC will carry out the review.

Although Otting has the legal option, he said he did not intend to release information on this review at this time.

Warren has made a career as a hammering wells Fargo has led the prosecution to have ousted Sloan. Sloan resigned from his post in March, saying he was "too focused on him" and becoming "distracting".

When Sloan made the announcement, Warren said it was "damned late" in a Twitter post. She also asked the Ministry of Justice to investigate Wells Fargo's longtime employee.

CLICK HERE TO OBTAIN THE FOX BUSINESS APP. Tim Sloan, former CEO of Wells Fargo, took over the company's leadership as he was involved in a scandal at the bank that opened millions of counterfeit accounts without customer knowledge. The Protection Bureau (CFPB) denounced Wells Fargo A $ 1

billion fine for the way he managed insurance for his car loans and mortgage misuse. The bank was fined 185 million US dollars in 2016 because it had secretly set up these accounts on behalf of clients.


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