This story appeared in Bank Digest.
Senator Jon Tester (D-Mont) and several other Democratic senators have written a letter to Wells Fargo's board of directors requesting that the board respond to questions about the bank's ongoing fraud investigation over deceptive sales practices. The letter said that "failure to answer questions--especially basic questions--about the causes and consequences of the fraud that Wells Fargo permitted for many years does nothing to restore the trust of Wells Fargo's customers and shareholders, many of whom are our constituents."
The letter also requested that the Wells Fargo Board answer the Senate Banking Committee's questions, including who is leading the investigation, why the investigation wasn't launched earlier, and what the board is doing to ensure this kind of systematic fraud and abuse does not happen again. This letter is a follow-up to one Tester and his colleagues sent back in September.