Hensarling gives opening statement in federal Wells Fargo hearing
Wed, 10/05/2016 - 18:13
Edgar
By LIZ HILL
“We are here today because millions of Americans were ripped off by their bank and seemingly let down by their government. Fraud is fraud and theft is theft. What happened at Wells Fargo over the course of many years cannot be described any other way. ”In fact, a whole host of federal laws were potentially violated, including the Truth in Savings Act, the Fair Credit Reporting Act, the Truth in Lending Act, the Electronic Funds Transfer Act, the Securities Act of 1933, the Securities and Exchange Act of 1934, and the Sarbanes-Oxley Act of 2002.
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