Senators Want DOJ Investigation of Wells Fargo

October 5, 2016

On Wednesday, October 5, 2016, a group of Democratic senators sent a letter to Attorney General Loretta Lynch requesting the U.S. Department of Justice(DOJ) investigate the opening of unauthorized accounts at Wells Fargo.  In particular, the letter called on the DOJ to hold individual executives accountable for any wrongdoing.

 

“A bank teller that takes a handful of bills from the cash drawer is likely to face charges for theft and prison time.  She can’t hide behind an army of lawyers and corporate policies that diffuse accountability for those at the top.  Meanwhile, an executive who oversees a massive fraud that implicates thousands of bank employees and costs customers millions of dollars can walk away with a hefty retirement package and millions in the bank,” the senators stated.  “Every time the Department of Justice settles a case of corporate fraud without holding individuals accountable, it reinforces the notion that the wealthy and powerful have purchased a higher class of justice for themselves,” they continued.

 

The letter was signed by Sens Tammy Baldwin (D-WI), Richard Blumenthal (D-CT), Richard Durbin (D-IL), Al Franken (D-MN), Kirsten Gillibrand (D-NY), Angus King (I-ME), Amy Klobuchar (D-MN), Patrick Leahy (D-VT), Ed Markey (D-MA), Jeff Merkley (D-OR), Bernard Sanders (I-VT), Elizabeth Warren (D-MA), and Ron Wyden (D-OR).