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Wells Fargo Chief Executive John Stumpf quickly left the Rayburn House Office Building today after facing more than four hours of blistering questioning from lawmakers angry about the bank's creation of millions of bogus accounts in customers' names.
Stumpf would not answer reporters' questions after numerous members of the House Financial Services Committee criticized his handling of the controversy and questioned his ability to run the giant bank.
In his second Capitol Hill appearance in as many weeks, Mr. Stumpf again expressed regret for his company's actions and said Wells Fargo's board was working to investigate how problems with sham accounts and unauthorized meddling in customer business snowballed over five years.
Wells Fargo CEO John Stumpf returned to Capitol Hill Thursday to testify about the bank's sales practices before the House Financial Services Committee on Thursday morning. Scroll down for updates compiled through the day.
2:11 p.m. Hearing wraps.
The head of Wells Fargo took a brutal drubbing before a House panel Thursday as members of both parties called for his job and suggested he should face criminal charges.
John Stumpf, the CEO and chairman of the board at the bank, was roundly criticized for over four hours before the House Financial Services Committee as he sought to apologize and explain how his company spent years creating potentially up to 2 million fake accounts to meet sales goals.
WASHINGTON, DC – Congressman Roger Williams (R – Austin) this afternoon voted to override President Barack Obama’s veto of the Justice Against Sponsors of Terrorism Act – a bill which would allow victims of terrorism to sue foreign governments for attacks on American soil.
Texas Republican Rep. Roger Williams has found another way to bring his love of sports to his work in Congress — this time teaming up with Alabama Democratic Rep. Terri A. Sewell to launch the College Football Caucus.
"Between the baseball caucus, football caucus and coach of the baseball team, guys are starting to call me the athletics director of Congress," Williams said.
FORT HOOD — A set of barracks that house about 2,000 Fort Hood soldiers will soon see $61.5 million renovation.
After working with Army leadership, U.S. Reps. John R. Carter, R-Round Rock, and Roger Williams, R-Austin, announced Tuesday that Fort Hood will receive the funding to sustain, restore and modernize barracks units at the Great Place.
WASHINGTON, DC – Congressman Roger Williams (R – Austin), who represents Fort Hood in the U.S. House of Representatives, today issued the following statement on POW/ MIA Recognition Day:
“Today we remember our sons and daughters who made such courageous sacrifices in defending the United States. We remind them and their families that they will never be forgotten. These are America’s heroes to whom we owe much gratitude.”
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In 2010, just two years after one of the largest financial collapses in our nation’s history, President Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act into law. At the time, President Obama and Congress promised to hold Wall Street accountable and protect American families from unfair, abusive financial practices.
But six years later, we have seen firsthand that Dodd-Frank, as it is called for short, has allowed for continued taxpayer-funded bailouts and crippled Main Street businesses and community financial institutions.