Senators demand answers from U.S. Bank on fake accounts scandal

U.S. Bank

Democratic senators are calling on U.S. Bank to answer questions before a Senate committee regarding an alleged fake accounts scandal the bank recently paid $37.5 million to settle.

Sen. Sherrod Brown (D-Ohio), chairman of the Senate Committee on Banking, Housing, and Urban Affairs, and several of his colleagues wrote a letter Thursday to U.S. Bank Chief Executive Andrew Cecere about how they are “deeply concerned” regarding the bank’s conduct of “using consumer data to issue credit cards and lines of credit and to open deposit accounts for consumers without their knowledge or consent.”

Brown was joined in signing the letter by committee members and Sens. Elizabeth Warren (D-Mass.), Catherine Cortez Masto (D-Nev.), Robert Menendez (D-N.J.), and Chris Van Hollen (D-Md.)

lock iconTHIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.