Wells Fargo moves to begin internal investigation into fake accounts

After the scandal broke, Wells Fargo’s board of directors said that it planned to launch an internal investigation to determine how the fake account issue festered for as long as it did.

Now, according to a report from Reuters, Wells Fargo is ready to begin that internal investigation, naming four board members to a committee that will lead the investigation.

From Reuters:

Wells Fargo & Co Chairman Stephen Sanger and Vice Chair Elizabeth Duke have been named to a four-member committee that will lead an internal investigation into the bank’s recent sales scandal, a person familiar with the matter said on Thursday.

Rounding out the special committee’s leadership, the person said, are Enrique Hernandez, chair of the board of directors’ risk committee, and Donald James, a director who sits on the board’s finance and risk committees.

Read on.


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