Wells CEO to face Congress, a year since sales scandal broke
The prepared comments from
The scandal was the biggest in
"I apologize for the damage done to all the people who work and bank at this important American institution," Sloan said in his prepared comments.
Most of the questioning tomorrow is likely to be focused on the ways that
In response, Sloan is likely to talk about new managers have been trying to amends with customers, politicians and the public. Since last fall, Wells has changed its sales practices, ousted other executives and called tens of millions of customers to check on whether they truly opened the accounts.
But other issues have surfaced, including that hundreds of thousands of customers were signed up for and billed for car insurance that they didn't need or necessarily know about.
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