Menendez Stands with Victims of Wells Fargo Fraud; Demands Answers from Bank over Consumer Account Scam

Menendez Stands with Victims of Wells Fargo Fraud; Demands Answers from Bank over Consumer Account Scam


TEANECK, NJ – U.S. Senator Bob Menendez, a senior member of the Senate Banking Committee, today stood with Linda Edwards of Rumson, who is a victim of Wells Fargo’s large-scale scheme to cheat its customers, and demanded answers from bank brass. 

Sen. Menendez was joined at a news conference today outside the Wells Fargo Branch in Teaneck by Ms. Edwards, who described how Wells Fargo opened accounts in hers and her teenaged daughter’s names without their knowledge or authorization. 

The Consumer Financial Protection Bureau (CFPB) last week levied its highest ever fine against Wells Fargo, who fired 5,300 employees allegedly implicated in the scam. 

After Sen. Menendez led the call for Congressional hearings, Wells Fargo President, Chairman and CEO John Stumpf has been called to testify Tuesday before the Senate Banking Committee, in which he will have to answer for his company’s wrongdoing.

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