Bank Watch

Wells Fargo hearing before House panel set for Sept. 29

Wells Fargo CEO John Stumpf swears in to testify before a Senate Banking Committee hearing in Washington, D.C., on Sept. 20, 2016.
Wells Fargo CEO John Stumpf swears in to testify before a Senate Banking Committee hearing in Washington, D.C., on Sept. 20, 2016. Bloomberg

The House Financial Services Committee has set Sept. 29 for its hearing into Wells Fargo’s sales practices, the next opportunity for lawmakers to question the bank’s CEO.

Last week, the committee announced plans for the hearing, saying only it would be held this month and that John Stumpf is being asked to testify.

The hearing comes after Stumpf faced a barrage of criticism during a Senate Banking Committee hearing on Tuesday into regulators’ claims Wells Fargo employees opened millions of accounts that may not have been authorized by customers to meet sales goals.

Wells Fargo has said it welcomes “the opportunity to provide the committee with information on this matter and to discuss steps we have taken to affirm our commitment to customers.”

Deon Roberts: 704-358-5248, @DeonERoberts

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