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For months, I have repeatedly pressed Janet Yellen to hold Wells Fargo accountable for its fake accounts scam and push out responsible Board Members. Today she did it – in her last act as Fed Chair.pic.twitter.com/ebIkhu8R0a
Fines alone will never rein in fraudulent behavior at the big banks. We need tough penalties that affect the actual lives of the people who run the banks. By pushing out Board Members at Wells Fargo, Chair Yellen sent a strong message.https://www.warren.senate.gov/?p=press_release&id=1694 …
Chair Yellen’s decision today to freeze the growth of Wells Fargo until it shapes up also demonstrates that we have the tools to rein in Wall Street – if our regulators have the guts to use them. This one hits them where it hurts.
The massive fraud at Wells Fargo showed the whole country that we need more accountability on Wall Street. But for more than a year, we've watched as @realDonaldTrump and his government have raced to turn the big banks loose again to once again threaten our whole economy.
.@realDonaldTrump has filled our top economic jobs with people obsessed with sucking up to Wall Street, & today is Yellen’s last day at the Fed. Tomorrow, her replacement will face a choice: show the same kind of courage – or own the next financial crisis.https://www.cnbc.com/2018/02/02/federal-reserve-orders-wells-fargo-to-replace-four-board-members-restricts-growth-because-consumer-abuses.html …
Yeah!!!!
Thanks Janet
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