‘A sorry excuse for a board.’ Former Wells Fargo leaders savaged by Congress

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Two former board members of Wells Fargo, Elizabeth “Betsy” Duke and James Quigley, faced bipartisan criticism from the members of the House Financial Services Committee in a Tuesday hearing, the latest in a long series of Congressional castigation of the bank.The chair of the committee, Rep. Maxine Waters, D-Calif., had asked for the pair to resign after the release of a report by the panel’s Democrats last week which found that Wells Fargo’s board had failed to do proper oversight of the bank.For over a decade, Wells Fargo engaged in widespread sales misconduct, most prominently creating mill…

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