Two Wells Fargo board members who were scheduled to testify at a congressional hearing this week in the aftermath of the financial institution’s fake account scandal have resigned.
Wells Fargo announced Monday that Elizabeth “Betsy” Duke resigned as chairwoman and as a member of its board of directors, and James Quigley also resigned. Both Duke and Quigley were cited by name in a scathing report published last week by the House Financial Services Committee majority staff that, in part, took shots at Wells Fargo’s board of directors for “appear[ing] reluctant” to engage in oversight of the bank’s efforts to comply with its 2016 sales practices consent orders.
