Wells Fargo CEO's exit prompts Twitter tirade by Elizabeth Warren
If John Stumpf wondered what Sen. Elizabeth Warren, one of his biggest critics on Capitol Hill, thought about his resignation on Wednesday evening, he didn’t have to wait long.
Within hours of Wells Fargo’s announcement that its chairman and CEO was stepping down, effective immediately -- and reportedly with a $134 million exit package, Warren made her feelings clear in a rapid series of tweets.
A bank CEO should not be able to oversee a massive fraud & simply walk away to enjoy his millions in retirement.
— Elizabeth Warren (@SenWarren) October 12, 2016
The 63-year-old Stumpf, the Massachusetts Democrat believes, is still getting off easy with his forced retirement in the wake of the cross-selling scandal in which as many as 2 million customer accounts were opened without authorization.
If @WellsFargo’s John Stumpf is leaving with all of his ill-gotten millions, that's still not real accountability.
— Elizabeth Warren (@SenWarren) October 12, 2016
Last month during a Congressional hearing, the senator accused Strumpf of “gutless leadership” and told him he should resign, give back the millions he earned during the fraud and face a criminal investigation. On Wednesday, Warren said “he’s one for three.”
As I said: @WellsFargo CEO Stumpf should resign, return every nickel he made during the scam, & face DOJ/SEC investigation. He’s 1 for 3.
— Elizabeth Warren (@SenWarren) October 12, 2016
And in case anyone is not clear on how Warren’s views the situation, there’s this:
A bank teller would face criminal charges & a prison sentence for stealing a handful of 20s from the cash drawer.
— Elizabeth Warren (@SenWarren) October 12, 2016