Wells Fargo CEO evaluating bank’s size, says past leadership ‘failed’

Wells Fargo CEO Charlie Scharf said he has “no preconceived notions about what size our company should be” and that he is considering “additional changes” to the bank’s business model.That assessment came in written testimony for his scheduled appearance in front of the U.S. House Financial Services Committee Tuesday. He will attempt to convince a skeptical Congress that the bank is on the right track, despite the existence of “shortcomings” it needs to address.Congress has been one of the sharpest critics of the bank’s practices; two previous Wells CEOs resigned shortly after testimony in whi…

Read More

Like what you read? Didn't like what you read? Weigh in!