American Banker, May 31, 2022, Brown calls on Wells Fargo to end discriminatory practices ‘once and for all’
In a letter to President and CEO Charlie Scharf, Sen. Sherrod Brown of Ohio called on the executive to “once and for all address Wells Fargo’s governance, risk management, and hiring practices — weaknesses that have plagued the bank for almost a decade.”
Brown’s letter revolves around a string of media reports published in recent weeks, including a New York Times report from earlier in May that accused Wells Fargo of giving Black and female job applicants “fake interviews” in order to meet diversity hiring goals. Brown also pointed to a recent $7 million penalty from the Securities and Exchange Commission against Wells Fargo for shortcomings in its anti-money-laundering practices.
